An Altcoin Spot ETF Was Supposed to Be Approved Today: Why Hasn’t Approval Come Yet? Experts Explain

Bloomberg analyst James Seyffart stated that the deadline for the Litecoin ETF application may have expired. Normally, Canary's 19b-4 filing would have been completed today. However, Seyffart noted that the SEC is requiring all products to be filed under the newly adopted “general listing standards,” so the date may have lost its significance. Seyffart also noted that the US government shutdown has added significant uncertainty to the process, saying, “Nobody knows exactly what's happening right now. But we still think these products will be available in the near future.” Related News: Bitcoin Surpasses $121,000 - Bullish Sentiment Emerges as Experts Explain the Reason for the Rise Cryptocurrency journalist Eleanor Terrett said the shutdown could directly impact the Litecoin ETF approval process. Terrett explained that the SEC is required to approve the S-1 documents, but that the agency is currently operating with a limited staff. “It's unclear which staff are active and what their priorities are,” she said. “The old dates are now technically irrelevant because the 19b-4 filings have been requested to be withdrawn.” Terrett also said he reached out to the SEC for comment, but a spokesperson for the agency said they were unable to respond to multiple press requests due to the shutdown. *This is not investment advice. Continue Reading: An Altcoin Spot ETF Was Supposed to Be Approved Today: Why Hasn’t Approval Come Yet? Experts Explain