SEC Silent on Canary Litecoin ETF Amid Government Shutdown

The SEC has not made a decision on the Canary Litecoin ETF, missing its original deadline amid a government shutdown and the introduction of new generic listing standards. The absence of action has left the crypto community uncertain about regulatory processes and timelines for numerous pending crypto ETF applications. Recent commentary from industry analysts suggests the SEC's previous 19b-4 deadlines may be obsolete due to requests for applicants to withdraw such submissions, focusing instead on the S-1 registration statement for approval. With Canary having withdrawn its 19b-4 application, the impact on other applicants remains unclear. Amid the shutdown, the SEC is functioning with a limited staff, but has stated that its EDGAR database will still be operational. Analysts remain optimistic that the revised listing standards could significantly hasten approval processes for new spot crypto ETFs, which would enhance market participation.

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