In a latest development, Nasdaq has submitted a 19b-4 form to the US SEC for the proposed Canary Litecoin ETF. Notably, this filing initiates the official review process for the approval of a spot Litecoin ETF. Notably, the 19b-4 filing is the first official step to get the SEC’s approval on ETFs. This filing therefore starts the 240-day period within which the SEC can either approve the application, reject it or ask for more information. Bloomberg ETF Analyst Eric Balchunas described the recent filing as a “positive signal,” suggesting that Litecoin could be the next cryptocurrency to receive approval for a spot ETF. The crypto market reacted positively to the news where Litecoin price surged 15% in the last 24 hours.

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