Nasdaq has submitted a 19b-4 form to the U.S. Securities and Exchange Commission (SEC) for the proposed Canary Litecoin ETF. This filing, made on behalf of Canary Capital, starts the official review process for the approval of a spot Litecoin exchange-traded fund (ETF).
The submission is a crucial step in the regulatory process and could pave the way for Litecoin to join Bitcoin and Ethereum as the next cryptocurrency with an approved ETF in the United States.
Nasdaq Files 19b-4 for Canary Litecoin ETF
The 19b-4 form was submitted by Nasdaq on January 16, following Canary Capital’s amended S-1 filing earlier in the week. These two filings consequently fulfill major requirements for the SEC’s review of the ETF proposal.
According to the submission, U.S. Bancorp Fund Services, LLC will act as the fund administrator, with U.S. Bank N.A. overseeing custody of the ETF’s cash. Coinbase Custody Trust Company LLC will be responsible for safeguarding the Litecoin held by the fund.
The 19b-4 filing is a necessary document submitted by exchanges to initiate the SEC’s formal approval process for ETFs. This filing, as a result, now starts the official 240-day review period for the SEC to approve, reject, or request additional information about the application.
Bloomberg Senior ETF Analyst Eric Balchunas subsequently described the filing as a “positive sign” in a recent post on X, suggesting that Litecoin could be the next cryptocurrency to gain approval for a spot ETF.
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The post Breaking: Nasdaq Files 19b-4 for Canary Litecoin ETF Amid Approval Speculation appeared first on CoinGape.
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