{"id":20382,"date":"2025-01-16T14:53:44","date_gmt":"2025-01-16T12:53:44","guid":{"rendered":"https:\/\/forklog.com\/en\/bloomberg-analyst-sees-strong-odds-of-a-litecoin-etf-approval\/"},"modified":"2025-01-16T14:53:44","modified_gmt":"2025-01-16T12:53:44","slug":"bloomberg-analyst-sees-strong-odds-of-a-litecoin-etf-approval","status":"publish","type":"post","link":"https:\/\/forklog.com\/en\/bloomberg-analyst-sees-strong-odds-of-a-litecoin-etf-approval\/","title":{"rendered":"Bloomberg analyst sees strong odds of a Litecoin ETF approval"},"content":{"rendered":"<p>An exchange-traded fund based on Litecoin (LTC) is likely to be the next spot crypto ETF in the US, Bloomberg analyst Eric Balchunas said.<\/p>\n<blockquote class=\"twitter-tweet\" data-lang=\"en\">\n<p lang=\"en\" dir=\"ltr\">We had heard chatter that the Litecoin S-1 had gotten comments back from SEC. This looks to confirm that which bodes well for our prediction that Litecoin is most likely to be the next coin approved. All that said, new SEC chair has yet to start and that&#8217;s a huge variable. <a href=\"https:\/\/t.co\/cKFswPwcr0\">https:\/\/t.co\/cKFswPwcr0<\/a><\/p>\n<p>\u2014 Eric Balchunas (@EricBalchunas) <a href=\"https:\/\/twitter.com\/EricBalchunas\/status\/1879662827943944264?ref_src=twsrc%5Etfw\">January 15, 2025<\/a><\/p><\/blockquote>\n<p> <script async src=\"https:\/\/platform.twitter.com\/widgets.js\" charset=\"utf-8\"><\/script><\/p>\n<p>In October 2024, Canary Capital <a href=\"https:\/\/forklog.com\/en\/news\/canary-capital-seeks-sec-approval-for-spot-litecoin-etf\">filed<\/a> an S-1 registration statement for an LTC ETF with the <span data-descr=\"U.S. Securities and Exchange Commission\" class=\"old_tooltip\">SEC<\/span>.<\/p>\n<p>According to Balchunas, the firm received comments from the regulator on the proposal.<\/p>\n<blockquote class=\"wp-block-quote is-layout-flow wp-block-quote-is-layout-flow\">\n<p>&#8220;This looks to confirm a good omen for our forecast that Litecoin is most likely to be the next coin approved. With all that said, the new SEC chair has yet to start work, and that is an important factor,&#8221; he said.<\/p>\n<\/blockquote>\n<p>His colleague James Seyffart said the firm had already amended the filing.<\/p>\n<blockquote class=\"twitter-tweet\" data-lang=\"en\">\n<p lang=\"en\" dir=\"ltr\">NEW: <a href=\"https:\/\/twitter.com\/CanaryFunds?ref_src=twsrc%5Etfw\">@CanaryFunds<\/a> just filed an amended S-1 for their Litecoin ETF filing. No guarantees \u2014 but this might be indicative of SEC engagement on the filing. Still no 19b-4 filing yet though<\/p>\n<p>(A 19b-4 would actually start the potential approval\/denial clock) h\/t <a href=\"https:\/\/twitter.com\/isabelletanlee?ref_src=twsrc%5Etfw\">@isabelletanlee<\/a> <a href=\"https:\/\/t.co\/wFtNOmbmYx\">pic.twitter.com\/wFtNOmbmYx<\/a><\/p>\n<p>\u2014 James Seyffart (@JSeyff) <a href=\"https:\/\/twitter.com\/JSeyff\/status\/1879659953822347736?ref_src=twsrc%5Etfw\">January 15, 2025<\/a><\/p><\/blockquote>\n<p> <script async src=\"https:\/\/platform.twitter.com\/widgets.js\" charset=\"utf-8\"><\/script><\/p>\n<blockquote class=\"wp-block-quote is-layout-flow wp-block-quote-is-layout-flow\">\n<p>&#8220;No guarantees, but this might be a sign of SEC engagement on the proposal,&#8221; he said.<\/p>\n<\/blockquote>\n<p>Seyffart also noted that a 19b-4, which would amend exchange rules to allow the product to list, has not yet been filed. That means the clock for the regulator\u2019s final decision on approving the fund has not started.<\/p>\n<h2 class=\"wp-block-heading\">Prospects for crypto ETFs<\/h2>\n<p>President-elect Donald Trump <a href=\"https:\/\/forklog.com\/en\/news\/trump-nominates-paul-atkins-as-sec-chair\">nominated<\/a> Paul Atkins, a crypto-friendly lawyer and former SEC commissioner, to chair the agency. His nomination still requires approval by Congress.<\/p>\n<p>Current chair Gary Gensler will <a href=\"https:\/\/forklog.com\/en\/news\/gary-genslers-departure-a-retrospective-on-the-sec-chairs-tenure\">step down<\/a> on January 20 \u2014 the day of Trump\u2019s inauguration. He has faced criticism from the crypto community for a tough approach to regulating the industry.<\/p>\n<p>However, in a recent interview Gensler noted that under his leadership futures-based bitcoin ETFs appeared in the US in 2021. In January 2024 the agency <a href=\"https:\/\/forklog.com\/en\/news\/sec-approves-all-11-spot-bitcoin-etf-applications\">approved<\/a> spot bitcoin products, and in July similar <a href=\"https:\/\/forklog.com\/en\/news\/ethereum-spot-etfs-debut-with-1-billion-trading-volume\">Ethereum funds<\/a>.\u00a0<\/p>\n<p>The SEC is reviewing five applications for Solana ETFs from <a href=\"https:\/\/forklog.com\/en\/news\/solana-reaches-all-time-high-amid-four-sol-etf-listing-applications\">VanEck, 21Shares, Canary, Bitwise<\/a> and Grayscale. In November, <a href=\"https:\/\/forklog.com\/en\/news\/bitwise-files-for-spot-xrp-etf-registration\">Bitwise<\/a> and <a href=\"https:\/\/forklog.com\/en\/news\/21shares-seeks-sec-approval-for-spot-xrp-etf\">21Shares<\/a> filed paperwork to launch spot XRP exchange-traded products.<\/p>\n<p>Industry experts <a href=\"https:\/\/forklog.com\/en\/news\/experts-anticipate-solana-etf-launch-by-2025s-end\">are optimistic<\/a> about the prospects for new crypto ETFs being approved in the US, citing <a href=\"https:\/\/forklog.com\/en\/news\/trump-expands-administration-with-bitcoin-friendly-appointees\">personnel changes<\/a> in government and Gensler\u2019s imminent departure.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>An exchange-traded fund based on Litecoin (LTC) is likely to be the next spot crypto ETF in the US, Bloomberg analyst Eric Balchunas said. We had heard chatter that the Litecoin S-1 had gotten comments back from SEC. This looks to confirm that which bodes well for our prediction that Litecoin is most likely to [&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":20381,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"select":"","news_style_id":"","cryptorium_level":"","_short_excerpt_text":"","creation_source":"","_metatest_mainpost_news_update":false,"footnotes":""},"categories":[3],"tags":[569,209,1138],"class_list":["post-20382","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news-and-analysis","tag-etf","tag-litecoin","tag-opinions"],"aioseo_notices":[],"amp_enabled":true,"views":"77","promo_type":"","layout_type":"","short_excerpt":"","is_update":"","_links":{"self":[{"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/posts\/20382","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/comments?post=20382"}],"version-history":[{"count":0,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/posts\/20382\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/media\/20381"}],"wp:attachment":[{"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/media?parent=20382"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/categories?post=20382"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/tags?post=20382"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}