The U.S. Securities and Exchange Commission (SEC) has delayed its decision on Canary Capital's application for a spot Litecoin exchange-traded fund (ETF), originally due for a response on May 5, 2025. Based in Nashville, Tennessee, Canary Capital submitted paperwork for the Litecoin ETF last year. This postponement is part of a broader trend where the SEC has yet to make determinations on numerous altcoin ETF applications, following the prior approval of spot Bitcoin ETFs. The SEC historically took over a decade to approve Bitcoin funds and has recently seen leadership change with a more crypto-friendly president. Major asset management firms are now vying for the creation of various digital asset ETFs, with other altcoins such as Solana and XRP also being significant focal points. The SEC's incremental approach has led to multiple delays, recently noted in a similar rescheduling for applications concerning XRP and Dogecoin.

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