From beincrypto By Landon Manning

The Nasdaq filed form 19b-4 to begin trading a Litecoin ETF from Canary Capital today. This comes only a few hours after Canary amended its form S-1, suggesting productive SEC feedback.

Multiple analysts have suggested that the SEC will soon approve this fund, making it the first altcoin ETF of 2025.

Canary Capital’s Litecoin ETF

It seems like the road to a Litecoin ETF is almost over. Earlier today, Canary Capital filed an amendment to its S-1 registration form with the SEC, signaling a possible approval and generating bullish whale activity.

ETF analyst Nate Geraci noted later that the Nasdaq also filed a form 19b-4, requesting SEC permission to trade Canary’s Litecoin ETF.

“Litecoin ETF now has all the boxes checked. The first alt coin ETF of 2025 is about to be on the clock. I don’t see any reason why this would be withdrawn either given [that the] SEC gave comments on the S-1, Litecoin is seen as commodity, and there’s new SEC sheriff in town,” added Eric Balchunas, a fellow ETF analyst.

If Canary Capital’s Litecoin ETF wins SEC approval, it could have a notable impact on the asset’s price. Recently, Litecoin suffered significant bearish pressures, including the lowest number of daily active addresses since 2023.

However, this ETF buzz has quickly generated a huge amount of hype, which could possibly stir up new momentum.

Litecoin (LTC) Price Performance. Source: BeInCrypto

However, a Litecoin ETF might not have as much engagement as other altcoin ETFs. Over the years, the protocol has seen less development compared to other networks. Also, LTC’s growth has been stagnant even in the bull market.

Yet a Litecoin ETF is more likely because there are fewer hurdles for the SEC to approve this fund. For instance, Litecoin is already considered a commodity by the regulator. So, there is no lingering debate about whether the asset should be treated as a security.