Litecoin ETF: Nasdaq 19b-4 Filing Signals Momentum for Canary Capital Proposal

Nasdaq has filed a 19b-4 form to advance Canary Capital Litecoin ETF application with the SEC. With a pro-crypto administration incoming, experts predict a favorable outcome for the ETF proposal.

Nasdaq Files 19b-4 for Canary Capital’s Litecoin ETF Application

Nasdaq has submitted a 19b-4 form to the U.S. Securities and Exchange Commission (SEC) on behalf of Canary Capital, marking a critical step toward approving a Litecoin ETF. This filing is the second phase in the ETF application process and sets the stage for the SEC to acknowledge the proposal officially.

Key Details of the Filing

A 19b-4 form is typically filed by Self-Regulatory Organizations (SROs) like Nasdaq to propose rule changes consistent with the Exchange Act. These filings are instrumental in determining whether a proposed ETF meets the necessary regulatory standards.

In its updated 19b-4 form, Canary Capital disclosed the fund’s administrator and custodians:

• Administrator: U.S. Bancorp Fund Services, LLC
• Cash Custodian: U.S. Bank N.A.
• Litecoin Custodian: Coinbase Custody Trust Company LLC

Market experts see this move as an indication of engagement between Canary Capital and the SEC, particularly following the firm’s amended filing in December 2024. This revision was likely prompted by feedback from the SEC.

Optimism Surrounding Litecoin ETF Approval

Eric Balchunas, Bloomberg’s senior ETF analyst, expressed optimism about the likelihood of a Litecoin ETF hitting the market soon. He noted on social media that recent SEC comments on the filing suggest positive momentum.

Balchunas wrote, “We had heard chatter that the Litecoin S-1 had gotten comments back from [the] SEC. This bodes well for our prediction that Litecoin is most likely to be the next coin approved.”

Pro-Crypto Administration Bolsters Prospects

The impending inauguration of President Donald Trump on January 20, coupled with the nomination of Paul Atkins as SEC Chair, has further fueled optimism. Atkins, a known crypto advocate, is expected to steer the SEC toward a more supportive regulatory framework for digital assets.

Although the agency’s leadership transition might delay immediate action, experts believe the pro-crypto stance of the incoming administration will significantly influence the trajectory of crypto ETF approvals.

A Growing Crypto ETF Market

The excitement around crypto ETFs is palpable, with several asset managers vying to list their products. Notably:

• Canary Capital has also filed for an XRP ETF.
• Bitwise, WisdomTree, and VanEck are pursuing Solana ETF approvals.
• Applications for Hedera and additional Litecoin ETFs are under review.

As the U.S. positions itself as a global crypto hub, the rising interest in digital asset ETFs underscores the industry’s growing legitimacy and investor demand.

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