The U.S. Securities and Exchange Commission (SEC) has delayed its decision on a proposed spot Litecoin (LTC) exchange-traded fund (ETF).

The U.S. Securities and Exchange Commission (SEC) has announced a delay in its decision on an application for a proposed exchange-traded fund (ETF) that would track the spot price of Litecoin (LTC).

The SEC's action comes after it also postponed rulings on several other applications for spot crypto ETFs, including ones proposed by AnChain.AI and several other companies for cryptocurrencies like XRP and Dogecoin (DOGE).

Canary Capital is seeking to launch an ETF that would provide investors with exposure to Litecoin, a cryptocurrency with a $6.6 billion market capitalization. The asset management firm's application for the ETF was filed last October.

Asset managers are awaiting decisions on a new crop of crypto ETFs under SEC Chair Paul Atkins, who took the helm of the regulator in April of this year. Crypto bulls have been calling for new ETFs that track the spot price of various cryptocurrencies such as XRP, DOGE, LTC, and Solana (SOL). There haven’t been any new crypto ETFs approved since spot Bitcoin and Ethereum (ETH) ones were given the greenlight in the first half of 2024. LTC has declined 21% this year.

Is LTC a Buy?

Most Wall Street analysts don’t provide price targets on Litecoin, so we’ll look at the cryptocurrency’s three-month performance instead. As one can see in the chart below, the price of LTC has declined 16% over the last 12 weeks.

Is LTC a good buy? It depends on your investing style. For instance, if you prefer to invest in assets that are covered by most analysts, then you might want to skip LTC. Most analysts don’t provide price targets on the cryptocurrency.

Moreover, if you’re an optimist and prefer to invest in assets that are likely to rise in price, then you might want to avoid LTC. As the chart shows, the price of Litecoin has been falling since the beginning of the year.