The US Securities and Exchange Commission (SEC) has delayed making a decision on the proposal of Litcoin (LTC) exchange-traded funds (ETF), a spot in Canary Capital.
This comes when the agency delayed several other applications for the Spot Crypto ETF last week, including XRP, Hadera, and Dogicine, but did not do so for canary Litcoin ETF, hoping that the regulator may have different plans for this fund.
But on Monday, the official deadline, the regulator announced the delay and asked for public comments about compliance with the proposal with regulatory requirements.
“, In particular, the Commission wants comment on whether the proposal to list and trade shares of the trust, which will hold on LTC, is designed to prevent fraudulent and manipulating acts and practices or raises any new or novel concerns that have not been reflected by the Commission,” the agency has written in one. Admission,
Canary Capital, which was founded by Steven McClurg, the co-founder of pre-founded Vulgary Fund, did the initial paperwork for the fund in October.
LTC, which is on $ 6.6 billion market cap, is an open-source blockchain project of Litcoin’s native cryptocurrency, whose code is copied from Bitcoin (BTC).
Experts at Bloomberg Intelligence had predicted that the token would be next to an ETF to be wrapped in an ETF in the next that Canary Capital had received a comment from SEC about its application in January.
The issuers have so far received the first major decision on the Crypto ETF which were made by the recently appointed SEC President Paul Atkins, who took over in April.
The replacement of Atkins of the former chair Gary Gensler is depicted as a “”.Huge variable“By Bloomberg Senior ETF analyst Eric Balchunas.
