The SEC is moving forward with the Canary Litecoin ETF proposal and is requesting public comments due within 21 days of its Federal Register publication. Nasdaq submitted a 19b-4 filing for the ETF on January 16, 2025, which is significant as it is the first altcoin ETF acknowledged by the SEC.
Analysts are speculating on how quickly the SEC will process the proposal. Eric Balchunas highlighted that it’s currently advancing through the necessary steps, raising questions about whether the agency will reach a decision before the full 240-day review period ends.