A decisive moment has arrived for Litecoin (LTC) holders, as the United States Securities and Exchange Commission (SEC) faces a key deadline for a potential Litecoin spot ETF.
According to Bloomberg ETF analyst James Seyffart, the SEC is expected to decide on Canary Funds’ application for a Litecoin exchange-traded fund (ETF) by today, May 5.
While the SEC has already delayed several filings early, this one was not included, which leaves open the possibility of an early decision, according to Seyffart.
Following the successful launch of Bitcoin and Ethereum ETFs, asset managers have filed dozens of applications for altcoin ETFs.
However, the SEC has delayed making decisions on the filings, creating anticipation in the crypto community.
In late April, the SEC delayed decisions on whether to allow the trading of altcoin spot ETFs, which would give investors exposure to Dogecoin and XRP. The regulator said it would wait until June to decide on the next steps for the Bitwise Dogecoin ETF and the Franklin XRP Fund.
According to Seyffart, personally, he thinks a delay is more likely but definitely something to watch.
"The Canary Funds Litecoin ETF filing is due for a decision (possibly a delay) by Monday 5/5. SEC went early & delayed a bunch of filings but not this. If any asset has a chance of early approval it's Litecoin IMO. Personally think a delay is more likely but definitely something to watch," Seyffart stated.
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