- Nasdaq has filed a Form 19b-4 for the proposed Canary Litecoin ETF.
- The SEC recently requested that Canary Capital amend the S-1 filing for the proposed Litecoin ETF.
- Canary’s initial filing for the Litecoin ETF was submitted in October 2024.
Nasdaq has taken a key procedural step by submitting a Form 19b-4 for the proposed “Canary Litecoin ETF,” signaling the start of the U.S. Securities and Exchange Commission’s (SEC) review process. This filing follows Canary Capital’s amendments to its S-1 registration statement, meaning the two primary documents needed for SEC consideration are now in place. The Form 19b-4, filed on Wednesday, outlines administrative and custody arrangements: US Bancorp Fund Services LLC is named as the ETF’s administrator, US Bank NA is designated to manage the fund’s cash holdings, and Coinbase Custody Trust Company LLC is identified as the custodian responsible for the ETF’s Litecoin holdings.
The Canary Litecoin ETF joins the growing list of proposed crypto ETFs.
The Nasdaq and Canary Capital filing comes amid a broader industry push to launch a range of spot cryptocurrency ETFs, driven in part by speculation that the incoming administration could take a more favorable stance on crypto regulation. Multiple firms are pursuing spot ETFs tied to tokens such as Solana and XRP. The SEC previously approved bitcoin ETFs in January 2024 and later approved ethereum ETFs, setting precedents that have opened the door to additional crypto-based investment products.
Bloomberg senior ETF analyst Eric Balchunas expressed optimism about the Litecoin ETF’s prospects, noting that SEC feedback on the S-1 can be interpreted as a positive sign for potential approval. At the same time, he cautioned that imminent leadership changes at the SEC could introduce uncertainty. Gary Gensler’s term as SEC chair ended recently, and President-elect Donald Trump has nominated Paul Atkins, a former SEC commissioner viewed as more crypto-friendly, as the nominee to lead the agency. Atkins’s confirmation hearing could take place in March, and any leadership change may influence the regulatory environment for digital assets.
Canary Capital first filed for a Litecoin ETF in October 2024, marking the beginning of this regulatory journey. With the 19b-4 and the amended S-1 now submitted, attention shifts to the SEC as the review process unfolds over the coming months. If approved, the ETF would represent an important milestone in offering Litecoin to retail and institutional investors via a regulated financial product, underscoring the growing convergence of traditional finance and digital asset markets.