The U.S. Securities and Exchange Commission is once again delaying its ruling on Grayscale’s proposal to convert its Litecoin Trust into a spot ETF, extending the decision deadline to October 10.r
The move marks the third delay since the original filing in January, with previous hold-ups issued in March and May.
Citing the need for more time under Section 19(B)(2) of the Exchange Act, the SEC has not requested additional public comments during this extension. Grayscale’s application remains under review as part of a broader wave of crypto ETF proposals currently crowding the regulator’s docket.
Litecoin’s price reacted quickly to the news, slipping nearly 2% and bringing its weekly loss to over 7%, now trading around $107.81. The dip reflects broader market uncertainty amid the SEC’s slow movement on crypto products.
Beyond Grayscale, Canary’s Litecoin ETF application has also been delayed. Still, Bloomberg analysts James Seyffart and Eric Balchunas remain optimistic, estimating a 90% chance that a Litecoin ETF will be approved by October.
The SEC is now evaluating over 70 crypto-related ETF filings, including proposals for Solana, XRP, Dogecoin, and other altcoins, as competition intensifies among issuers hoping to break into the regulated ETF space.
Alexander Stefanov
Reporter at Coindoo
Alex is an experienced financial journalist and cryptocurrency enthusiast. With over 8 years of experience covering the crypto, blockchain, and fintech industries, he is well-versed in the complex and ever-evolving world of digital assets. His insightful and thought-provoking articles provide readers with a clear picture of the latest developments and trends in the market. His approach allows him to break down complex ideas into accessible and in-depth content. Follow his publications to stay up to date with the most important trends and topics.
Source: https://coindoo.com/sec-pushes-grayscales-litecoin-etf-decision-to-octobe/