- Nasdaq filed Form 19b-4 for the proposed Canary Litecoin ETF.
- The SEC recently requested that Canary Capital amend the S-1 for the proposed Litecoin ETF.
- Canary Capital originally filed for the Litecoin ETF in October 2024.
Nasdaq took a significant step by filing Form 19b-4 for the proposed “Canary Litecoin ETF,” formally initiating the review process with the U.S. Securities and Exchange Commission (SEC).
The filing follows Canary Capital’s recent amendments to its S-1 registration statement, which included the additional documents the SEC requested to complete its review.
The Form 19b-4, submitted on Wednesday, states that U.S. Bancorp Fund Services, LLC will serve as the ETF’s administrator and that U.S. Bank NA will serve as the fund’s cash manager. Coinbase Custody Trust Company LLC is listed as the custodian responsible for holding the actual Litecoin assets backing the ETF.
Canary Litecoin ETF joins a growing list of proposed crypto ETFs
This move by Nasdaq and Canary Capital comes amid a broader push by multiple firms to launch spot ETFs tied to various cryptocurrencies, including Solana and XRP, fueled in part by expectations that the incoming Trump administration might adopt a more crypto-friendly regulatory stance.
The SEC previously approved spot Bitcoin ETFs in January 2024 and approved Ethereum ETFs later that year, setting precedent for additional regulated crypto investment products.
Bloomberg senior ETF analyst Eric Balchunas expressed optimism about the prospects for a Litecoin ETF, noting on X that the SEC’s feedback on the S-1 amendment is a positive signal for approval. He also cautioned that an upcoming change in SEC leadership could introduce important variables.
Gary Gensler’s term as SEC chair ended on Monday, and President-elect Donald Trump has nominated former SEC commissioner Paul Atkins—known for his views favorable to digital assets—to lead the agency. Atkins’s confirmation hearing could take place in March, an event that may shape the regulatory environment for cryptocurrencies.
Canary Capital’s initial filing for a Litecoin ETF was made in October 2024, marking the start of this regulatory process. With both the 19b-4 and S-1 filings now in place, attention turns to the SEC, where review and potential next steps are expected in the coming months.
This filing represents a key milestone toward making Litecoin accessible to mainstream investors through a regulated financial vehicle and underscores the growing intersection between traditional finance and digital asset markets.