Litecoin ETF Delayed Due to U.S. Government Shutdown
The U.S. Securities and Exchange Commission (SEC) missed its deadline to approve Canary Capital’s spot Litecoin ETF. This delay is due to the ongoing U.S. government shutdown. However, analysts believe the ETF launch is still imminent.
Canary Capital’s spot litecoin ETF faced a setback as the SEC was unable to make a decision on the deadline day. The SEC is currently operating with minimal staff due to the shutdown, which has slowed down its processes. FOX News reporter Eleanor Terrett noted that the SEC’s ability to process filings is hindered.
Despite the delay, analysts like Bloomberg’s James Seyffart remain optimistic. He believes the ETF will launch soon once the SEC regains full operational capacity. Eric Balchunas likened the situation to a “rain delay,” suggesting a decision is expected once the SEC is back to normal.
Litecoin’s price has remained in an uptrend, trading above major support levels. At press time, it was slightly below $121, a key resistance level. analysts at crypto.news predict a potential run higher if Litecoin breaks past this resistance.
litecoin’s steady uptrend as the start of the month is largely attributed to ETF hopes. The slight correction today is seen as a routine consolidation rather than a broader reversal. The crypto market remains bullish, with Litecoin poised for further gains.
