Litecoin ETF (LTC): Latest LTC Exchange Traded Funds Development News
2025-01-20
Bittime - Latest developments on ETFs Litecoin showed significant progress after Nasdaq filed form 19b-4 on behalf of Canary Capital with the US Securities and Exchange Commission (SEC).
Litecoin (LTC) ETF Initial Filing
The move marks a critical point in the approval process, following Canary Capital's initial S-1 filing in October and amendments made in December. This action shows that the SEC is actively involved in the application, which increases optimism among the crypto community.
What Is Filing 19b-4?
The 19b-4 filings, filed by self-regulatory organizations such as Nasdaq, propose rule changes to align with the Exchange Act. This step is critical for ETFs, as it sets the timeline for the SEC review process once the acknowledgment is published in the Federal Register.
If approved, this ETF would be a milestone for Litecoin and the crypto industry as a whole.
Current Litecoin Market Performance
When this article was written (2025-01-20), Litecoin's price was at $118.24, with a market capitalization of $8.91 billion and a 24-hour trading volume of $1.84 billion.
This growth reflects increased market interest, fueled in large part by potential ETF approval and renewed confidence in the cryptocurrency's future. With a circulating supply of 75.43 million LTC out of a total supply of 84 million, the Litecoin ecosystem is showing strong activity.
Read too How to Buy Litecoin (LTC)
Importance of Litecoin ETF: Increase Liquidity
A Litecoin ETF would provide institutional investors with an organized channel to gain exposure to Litecoin, potentially increasing liquidity and adoption.
Canary Capital's proposed ETF names Coinbase Custody Trust Company LLC as custodian for Litecoin, while US Bancorp Fund Services, LLC will handle administration. This partnership further increases confidence in the ETF structure.
Read too Litecoin ETF: Recent Developments You Should Know About
Future Prospects for Crypto ETFs Under Trump
Anticipation around crypto ETFs is growing, with several applications for Spot ETFs such as Solana, XRP, and Hedera currently under SEC review. With upcoming regulatory changes, including a pro-crypto administration under President Trump and the possible shift of the SEC seat to Paul Atkins, the chances of Litecoin ETF approval are increasing.
Conclusion
A successful approval could improve Litecoin's price predictions, strengthen its position in the market, and encourage further mainstream adoption. Keep up with developments in Litecoin which continues to make waves in the crypto and financial industry.
FAQs about the Litecoin (LTC) ETF
What is a 19b-4 filing in the context of a Litecoin ETF?
A 19b-4 filing is a form filed by self-regulatory organizations such as Nasdaq to propose rule changes required for the ETF approval process. This establishes a timeline for SEC review after the acknowledgment is issued.
How is the Litecoin market performing currently?
Currently, the price of Litecoin is $118.24, with a market cap of $8.91 billion and a 24-hour trading volume of $1.84 billion. The circulating supply is 75.43 million LTC out of a total supply of 84 million.
Why is a Litecoin ETF important for institutional investors?
A Litecoin ETF will provide an organized channel for institutional investors to gain exposure to Litecoin, which could increase the liquidity and adoption of this cryptocurrency in the market.
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Reference
Avni Patel, Litecoin News: ETF Filing Marks a Key Step Toward SEC Approval, Accessed January 20, 2025
Author: IN
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