Canary Capital's recently amended S-1 form for its Litecoin exchange-traded fund (ETF) indicates that Litecoin may become the next digital asset to receive approval for a crypto ETF in the United States, following Bitcoin and Ether in 2024. Analysts from Bloomberg noted that the filing supports the notion that the Securities and Exchange Commission (SEC) is reviewing Litecoin applications, although a pending leadership change at the SEC could impact the situation. An amended S-1 is typically filed after feedback from the SEC, but further steps are necessary for approval, including a 19b-4 filing by Canary. The amendment details agreements with crypto custodians Coinbase and BitGo and other operational matters. If approved, Litecoin would join Bitcoin and Ether as the third spot crypto ETF in the U.S., coinciding with a 15% price rally for Litecoin. Analysts anticipate increased interest in spot ETFs for Solana and XRP, predicting significant inflow of assets upon approval.

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