In a May 5 post on X, Bloomberg ETF analyst James Seyffart pointed out the unusual timing, noting that while the SEC has already postponed several other filings, this particular one has not been delayed. He remarked that “if any asset has a chance of early approval, it’s Litecoin,” although he maintained that a delay remains the more probable outcome.
As of may 5, which marks the SEC’s scheduled deadline for a ruling, the application submitted by Canary Capital has not experienced any postponements. This contrasts with numerous other crypto-related filings that have faced repeated delays, prompting speculation about the possibility of an early decision.
A decision on the proposed Litecoin exchange-traded fund submitted by Canary Capital is anticipated to be announced soon by the U.S. Securities and Exchange Commission.
The proposal for the Litecoin ETF was submitted on January 16 via Nasdaq’s 19b-4 process, which permits exchanges to request regulatory changes for listing new financial products. The filing was officially acknowledged by the SEC on January 29 under Acting Chairman Mark Uyeda, thereby initiating the formal review procedure. This development marked a significant shift, as prior efforts to introduce ETFs linked to lesser-known cryptocurrencies had been discouraged under the agency’s former leadership.
As of May 5, Litecoin was valued at approximately $87, reflecting a modest rise of 0.9% over the past day and nearly 10% over the preceding two weeks. A gradual rebound from April’s lows is evident on the daily chart, with the price maintaining a position above the 50-day moving average of $82.87. The relative strength index, recorded at 56, suggests potential for upward movement without entering overbought territory, while the expanding Bollinger Bands indicate increasing market volatility.
Trading volume has remained stable yet moderate, reflecting sustained investor interest rather than short-term excitement. Key support zones are positioned near $82 and $78, while a close above the $90 resistance level could signal a significant bullish trend reversal. Although the final decision remains uncertain, Litecoin’s market outlook could strengthen if the ETF gains approval. The SEC’s upcoming action is being closely monitored by traders.
