According to Bloomberg Senior ETF Analyst Eric Balchunas, a Litecoin exchange-traded fund (ETF) has a strong chance of becoming the next spot crypto ETF approved in the U.S. This prediction follows Canary Capital’s recent submission of an amended S-1 form to the Securities and Exchange Commission (SEC) for its Litecoin ETF.
Balchunas noted on X (formerly Twitter) that the SEC’s feedback on the S-1 filing suggests positive progress towards approval. He emphasized that this development aligns with his prediction that Litecoin is the most likely cryptocurrency to receive ETF approval next.
However, a significant uncertainty remains: the appointment of a new SEC chair to succeed Gary Gensler. While President-elect Trump has nominated former SEC commissioner Paul Atkins, known for his crypto-friendly stance, his confirmation by the Senate remains uncertain.
Bloomberg analyst James Seyffart pointed out that while the amended S-1 filing indicates SEC engagement, a 19b-4 filing – an application for a rule change submitted by a self-regulatory organization like the New York Stock Exchange – would be a more concrete signal of potential approval.
January 2025, Cryptoniteuae
