- SEC silence throughout shutdown delays Canary Litecoin ETF approval
- Outdated submitting deadlines could not apply underneath new itemizing requirements
- Litecoin holds close to $122, displaying resilience amid uncertainty
The much-anticipated Canary Litecoin ETF has hit a wall because the SEC stays quiet in the course of the ongoing U.S. authorities shutdown. With solely a skeleton crew dealing with operations, approvals are stalling and deadlines are slipping into limbo. Nonetheless, Litecoin has managed to carry its floor, buying and selling regular close to $122, shocking many who anticipated sharp volatility from the information.
Authorities Shutdown Complicates ETF Approval
The shutdown’s influence has left the SEC short-staffed, slowing progress throughout a number of crypto ETF purposes. Journalist Eleanor Terrett famous that the company nonetheless must log out on S-1 filings, however it’s unclear which duties remaining employees are prioritizing. She defined that with new itemizing requirements launched in September, earlier deadlines could not maintain the identical weight.
Specialists Weigh In on Submitting Deadlines
ETF analyst James Seyffart identified that the Canary ETF submitting was technically due underneath the outdated 19b-4 system, however issuers at the moment are being nudged into the up to date requirements. This shift has muddied the waters, leaving buyers questioning what guidelines actually apply. Seyffart admitted uncertainty dominates the state of affairs proper now, but he stays optimistic that the ETF will finally launch, even when timelines preserve drifting.
Litecoin Value Exhibits Resilience
Regardless of all of the noise, Litecoin’s worth has held regular at round $122, proving stronger than many anticipated. Fairly than sparking panic, the ETF delay has proven that LTC can keep resilient even when regulators drag their ft. For buyers, the case highlights each the challenges of crypto ETF approvals and the underlying power of established altcoins like Litecoin.
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