Bloomberg Analyst Reveals! This Altcoin Could Be the First Altcoin to Receive ETF Approval in the US After Bitcoin and Ethereum!

Canary Capital, which applied for Litecoin ETF, has updated its ETF application.

Canary Capital had submitted the S-1 registration form for the Litecoin ETF to the U.S. Securities and Exchange Commission (SEC) in October 2024. However, Canary Capital has now submitted a revised S-1 form for the Litecoin ETF.

Bloomberg analyst James Seyffart noted that this is likely an indication that the company is in dialogue with the SEC.

Seyffart indicated that no official 19b-4 filing has been made to initiate the approval timeline, stating that a 19b-4 filing would be a real signal for a possible approval.

Apart from Bloomberg ETF analyst Eric Balchunas, Litecoin ETF also made a comment.

Eric Balchunas, who stated that the latest development increased optimism for the potential ETF approval of Litecoin, claimed that Litecoin ETF could be the next crypto ETF to be approved in the US.

"We had heard rumors that Litecoin S-1 had received feedback from the SEC."

This is a good sign for our prediction that Litecoin is most likely to be the next cryptocurrency to be approved.

Balchunas finally said that there is a 'big variable' for ETFs. The analyst noted that this is the appointment of a new SEC chairman after Gary Gensler's departure next Monday.

When Canary Capital applied for the Litecoin ETF, they said, 'Litecoin, one of the longest-running blockchains with 100% uptime since inception, has a proven track record of security and reliability with significant institutional use cases.'

Canary Capital applied for ETFs for XRP, Solana (SOL), and Hedera (HBAR) in addition to Litecoin.