Litecoin ETF ‘most likely’ approved next in US, Bloomberg analyst says
A Litecoin ETF would “most likely” be the next spot crypto ETF approved in the U.S., Bloomberg Analyst Eric Balchunas said.Canary Capital filed an amended S-1 form for its Litecoin ETF application on Wednesday, which may indicate engagement from the SEC.
A Litecoin exchange-traded fund has a high chance of becoming the next spot crypto ETF to be approved in the U.S., Bloomberg Senior ETF Analyst Eric Balchunas wrote on X Wednesday.
The analyst’s comment follows Canary Capital’s submission of an amended S-1 form for its Litecoin ETF on Wednesday. An S-1 form is an initial registration form for new securities filed to the Securities and Exchange Commission.
“We had heard chatter that the Litecoin S-1 had gotten comments back from [the] SEC,” Balchunas wrote in his X post, adding that this “bodes well for our prediction that Litecoin is most likely to be the next coin approved.”
Nonetheless, Balchunas said that a “huge variable” remains — the appointment of a new SEC chair following Gary Gensler’s departure next Monday. Last month, President-elect Donald Trump chose crypto-friendly former SEC commissioner Paul Atkins to lead the agency, but it's unclear when the Senate would confirm the nomination, according to Reuters .
Another Bloomberg analyst, James Seyffart, said that Canary's filing of an amended S-1 form might be indicative of the SEC's engagement with the filing. Seyffart noted that a 19b-4 filing, an application for a proposed rule change by a self-regulatory organization like the New York Stock Exchange, would be an actual signal for a potential approval.
Canary first filed its Litecoin ETF S-1 statement with the SEC in October last year. In the amended filing , Canary stated that U.S. Bancorp Fund Services would be the administrator of the ETF, while Coinbase Custody Trust and BitGo would be the custodians to hold all of the ETF’s Litecoin on its behalf.
"As one of the longest-running blockchains with 100% uptime since its inception, Litecoin has demonstrated a proven track record of security and reliability with significant enterprise-grade use cases," Canary told The Block last October.
Litecoin, created in 2011 with a design to be a faster alternative to bitcoin, is currently the 25th largest cryptocurrency by market capitalization of $8.9 billion, according to The Block’s crypto price page . It rose 15% in the past 24 hours to trade at $118.54 at the time of writing.
With U.S. spot bitcoin and ether ETFs exceeding expectations, several issuers have submitted applications for spot crypto products based on other altcoins, such as Solana and XRP. According to a JPMorgan research note shared with The Block earlier this week, new Solana and XRP ETFs could attract around $13.6 billion in fresh investment within six to 12 months if approved.
Disclaimer: The content of this article solely reflects the author's opinion and does not represent the platform in any capacity. This article is not intended to serve as a reference for making investment decisions.
You may also like
Kodiak launches Berachain native perpetual contract platform—Kodiak Perps, enhancing its liquidity ecosystem
The native liquidity platform of the Berachain ecosystem, Kodiak, recently launched a new product, Kodiak Perps,...

Mars Morning News | Michael Saylor calls: Buy Bitcoin now
Trump Media & Technology Group’s Q3 losses widened to $54.8 million, and it holds substantial amounts of bitcoin and CRO tokens; US consumer confidence has fallen to a historic low; a whale bought the dip in ZEC and made a profit; a bitcoin whale transferred assets; Michael Saylor called for buying bitcoin; the Federal Reserve may initiate bond purchases. Summary generated by Mars AI. The accuracy and completeness of this content is still being iteratively updated by the Mars AI model.

MEET48: From Star-Making Factory to On-Chain Netflix — How AIUGC and Web3 Are Reshaping the Entertainment Economy
Web3 entertainment is moving from the retreat of the bubble to a moment of restart. Projects represented by MEET48 are reshaping content production and value distribution paradigms through the integration of AI, Web3, and UGC technologies. They are building sustainable token economies, evolving from applications to infrastructure, aiming to become the "Netflix on-chain" and driving large-scale adoption of Web3 entertainment.

Digital Euro: Italy Advocates for a Gradual Implementation

