Nasdaq has submitted a request to the U.S. Securities and Exchange Commission (SEC) seeking approval for a spot Litecoin (LTC) ETF. The Canary Litecoin ETF The application, filed on Wednesday on behalf of Canary Capital, aims to introduce the Canary Litecoin ETF. Bancorp Fund Services will serve as the fund administrator, with U.S. Bank NA designated as the cash custodian for the ETF. Coinbase Custody Trust Company LLC will hold the LTC in custody. This filing represents the second phase of a two-step procedure. It coincides with Canary Capital recently submitting an updated Form S-1. The approval of this filing will trigger the Canary Litecoin ETF approval process once the SEC certifies and publishes Form 19b-4 in the Federal Register. A Much Needed Boost Litecoin , which launched in 2011, offers faster transaction speeds compared to Bitcoin and lower transaction fees. It also utilizes a distinct hashing algorithm that promotes a more decentralized mining process, unlike Bitcoin. Should the SEC approve the listing of the Canary Litecoin ETF, it could reinvigorate the dormant altcoin, which has seen its lowest daily active address count since 2023. Canary Capital took its first step towards the Litecoin ETF in October 2024.
