• The SEC acknowledges Canary Capital’s Litecoin ETF, potentially the first altcoin ETF outside BTC & ETH.
• Regulatory shifts under Mark Uyeda boost optimism for broader altcoin ETF approvals in 2025.

The U.S. Securities and Exchange Commission (SEC) has officially acknowledged Canary Capital’s Litecoin [LTC] ETF filing, marking a potential milestone in the expansion of crypto-based exchange-traded funds.

Under the leadership of Acting Chairman Mark Uyeda, the SEC began reviewing the 19b-4 application submitted by Nasdaq on 29th January.

Execs weighs in

Bloomberg ETF analyst James Seyffart confirmed the development, noting that this filing could pave the way for Litecoin to become the first altcoin outside of Bitcoin [BTC] and Ethereum [ETH] to receive ETF approval in 2025.

If approved, this move could signal broader institutional acceptance of alternative cryptocurrencies in the regulated financial market.

Remarking on the same, Eric Balchunas, senior ETF analyst for Bloomberg, said in an X post,

“First alt coin 19b-4 to be acknowledged, rest were told to withdraw by Genz SEC. Throw in the comments from SEC on the S-1 and this filing is by far the furthest along checking all the boxes. Q now is will this SEC wait the full 240 days or approve more rapidly. Unknown.” 

Will altcoin ETFs overpower Bitcoin and Ethereum ETFs?

Interestingly, Litecoin ETF filing comes amid a growing push for altcoin-based exchange-traded

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Author: Ishika Kumari

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