Litecoin is reportedly set to see its first Change Traded Fund (ETF) accepted by the U.S. Securities and Change Fee (SEC). In keeping with ETF analyst Eric Balchunas, the S-1 software kind for the Litecoin ETF has acquired a response from the SEC, which seemingly helps predictions that Litecoin is more than likely to grow to be the subsequent accepted cryptocurrency ETF.
Additional highlighting the perceived optimism surrounding the SEC’s new chair, Paul Atkins, Balchunas added, “Having mentioned that, the brand new chairman of the SEC has not but taken workplace, which is a big variable.”
Litecoin ETF Receives SEC’s Approval?
We had heard chatter that the Litecoin S-1 had gotten feedback again from SEC. This seems to be to verify that which bodes effectively for our prediction that Litecoin is more than likely to be the subsequent coin accepted. All that mentioned, new SEC chair has but to begin and that’s an enormous variable. https://t.co/cKFswPwcr0
— Eric Balchunas (@EricBalchunas) January 15, 2025
Balchunas’s assertion was in response to Bloomberg’s Crypto Asset Administration analyst, James Seyffart, who claimed that Canary Funds had simply filed an amended S-1 for his or her Litecoin ETF submitting. Seyffart wrote, “No ensures — however this may be indicative of SEC engagement on the submitting. Nonetheless no 19b-4 submitting but although,” as he shared a picture of the submitting.
Courtesy: Litecoin submitting through @JSeyff
The submitting states that the ETF, managed by Canary Capital Group LLC, will maintain precise Litecoin, and its shares will commerce on the Nasdaq Inventory Market. Nonetheless, the providing is at the moment within the preliminary stage and can’t be offered till the SEC approves the registration. It isn’t a solicitation or supply in jurisdictions the place such gross sales are restricted.
Amid the hypothesis surrounding the SEC’s Approval, Grayscale Litecoin Belief (LTC) raised $2.3 million by way of the non-public placement of 242,900 new shares on January 9, 2025. The shares, priced based mostly on the Belief’s Internet Asset Worth (NAV), correspond to twenty,482.83821511 Litecoin (LTC). Following this issuance, the full excellent shares of the Belief now stand at 24,137,200.
From SEC filings, @Grayscale‘s Litecoin Belief introduced the non-public placement of 242,900 new shares, which characterize an mixture of over 20K Litecoin $LTC, the cryptocurrency that underlies the Belief’s property. This places the full variety of shares issued and excellent to…
— Litecoin Basis ⚡️ (@LTCFoundation) January 15, 2025
If accepted by the SEC, Litecoin will be a part of the ranks of Bitcoin and Ethereum ETFs, whereas Solana and Ripple (XRP) ETFs are additionally awaiting regulatory approval to enter the market.
As of January 15, the cumulative whole internet influx for Bitcoin and Ethereum ETFs has reached $35.98 billion and $2.42 billion, respectively, underscoring the huge scale of the cryptocurrency ETF market.
