The US stock and values commission. UU. (SEC) has further delayed the decision -making of the proposal of Canary Capital for a Spot Litecoin Fund (LTC) negotiated (ETF).
This occurs after the agency delayed several other applications for SPOT cryptographic ETF last week, including XRP, Hedera and Dogecoin, but had not done so for the ETF Canary Litecoin, which caused the hope that the regulator can have different plans for this fund.
But on Monday, the official deadline, the regulator announced the delay and requested public comments on compliance with the proposal with the regulatory requirements.
“In particular, the Commission seeks comments on whether the proposal to list and negotiate the actions of The Trust, which would possess LTC, is designed to avoid fraudulent acts and practices or manipulators or raises any new or novel concern that the commission not previously contemplated,” the agency wrote in a presentation.
Canary Capital, which was founded by former Valkyrie Funds Steven McClurg last year, had submitted initial documents for the fund in October.
LTC, which is in a market capitalization of $ 6.6 billion, is the native cryptocurrency of Litecoin, a open source blockchain project whose code is copied by Bitcoin (BTC).
ETF experts in Bloomberg Intelligence had predicted that the Token would be the next one to wrap in an ETF in the middle of a talk that Canary Capital had received comments from the SEC regarding its application in January.
The issuers have not yet received the first important decision about cryptographic ETFs taken by the recently appointed president of the SEC, Paul Atkins, who took office in April.
The ATKINS replacement of former President Gary Gensler has been characterized as a “great variable” by Bloomberg’s senior analyst Eric Balchunas.
