Bloomberg Analyst Explains! This Altcoin Could Be the First Altcoin to Get ETF Approval in the US After Bitcoin and Ethereum!

Canary Capital, which applied for a Litecoin ETF, has updated its ETF application. Canary Capital had filed the S-1 registration form for the Litecoin ETF with the U.S. Securities and Exchange Commission (SEC) in October 2024. However, Canary Capital has now filed a corrected S-1 form for the Litecoin ETF. Bloomberg analyst James Seyffart said this is likely an indication that the company is in dialogue with the SEC. Seyffart noted that while a formal 19b-4 filing has not yet been made to start the approval timeline, a 19b-4 filing would be a real signal for possible approval. Apart from Seffart, Bloomberg ETF analyst Eric Balchunas also made an assessment of the Litecoin ETF. Stating that the latest development increases optimism for Litecoin's potential ETF approval, Eric Balchunas claimed that the Litecoin ETF could be the next cryptocurrency ETF to be approved in the US. “We had heard rumors that the Litecoin S-1 had received feedback from the SEC. This bodes well for our prediction that Litecoin has the highest probability of being the next cryptocurrency to be approved.” Finally, Balchunas said there remains a “big variable” for ETFs, which the analyst noted is the appointment of a new SEC chairman after Gary Gensler leaves next Monday. “As one of the longest-running blockchains with 100% uptime since inception, Litecoin has a proven track record of security and reliability with significant enterprise-level use cases,” Canary Capital said when it filed for the Litecoin ETF. Apart from Litecoin, Canary Capital has also applied for ETFs for XRP, Solana (SOL), and Hedera (HBAR). Related News: Second Application for XRP in the US! Is There a Chance of Approval for the XRP ETF? *This is not investment advice. Continue Reading: Bloomberg Analyst Explains! This Altcoin Could Be the First Altcoin to Get ETF Approval in the US After Bitcoin and Ethereum!