The American Commission for Securities and Exchange should issue a decision soon on the Litecoin Stock Exchange Fund proposed by Canary Capital.
As of May 5, the date designated in the SEC for a decision, the capital request of Canary was not delayed. Unlike other deposits linked to crypto that have experienced several delays, this increases speculation on a potential early response.
Bloomberg ETF analyst, James Seyffart, noted the unusual calendar in an article on May 5 on X, stressing that the SEC has already decided to delay several deposits but not this one. “If an asset has a chance of early approval, it’s Litecoin,” he said, although he still considers a more likely delay.
The ETF proposition of Litecoin (LTC) was filed on January 16 in Process 19B-4 of the NASDAQ, which allows exchanges to request modifications to list the new products. The dry, under the acting president, Mark Uyeda, officially recognized the file on January 29, starting the official examination process. This stage was a key turning point, because the past attempts to launch ETF linked to smaller cryptocurrencies had been discouraged under the previous direction of the SEC.
As of May 5, Litecoin was negotiated at around $ 87, with slight increases of 0.9% compared to the previous day and almost 10% in the previous two weeks. The daily graphus shows a regular recovery from April, the price holding above the 50-day mobile average at $ 82.87. The relative resistance index is 56 years old, indicating a space for an ascending momentum without being borrowed, while the Bollinger bands widen, indicating the increase in volatility.
The volume is stable but moderate, showing a continuous interest as opposed to the transitional media threw. Support levels are located nearly $ 82 and $ 78, and resistance above $ 90, can mark a strong upward trend reversal. Although the result is still unknown, the performance of the Litecoin market could improve if the FNB is approved. The merchants are looking closely at the next dry movement.
