The SEC is seeking public comments on the proposal to convert Grayscale Litecoin Trust into an ETF

2025-02-07 08:03:08

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ChainCatcher news, according to The Block, the U.S. Securities and Exchange Commission (SEC) is seeking public comments on Grayscale's proposal to convert its Litecoin (LTC) trust into an ETF. In a document released on Thursday, the SEC acknowledged the application submitted by NYSE Arca on behalf of Grayscale and requested comments to be submitted within 21 days after publication in the Federal Register. The SEC may decide to approve, deny, or "initiate proceedings."

Last month, NYSE Arca submitted a 19b-4 filing to apply for the conversion of the "Grayscale Litecoin Trust" and "Grayscale Solana Trust" into ETFs. The 19b-4 filing is the second part of a two-step process for proposing a spot cryptocurrency ETF. Once the SEC confirms the filing, it will be published in the Federal Register, initiating the agency's approval process.

In recent weeks, several companies have submitted fund proposals based on other altcoins such as Dogecoin (DOGE), seemingly hoping that changes in SEC leadership may be more favorable for the approval of cryptocurrency ETFs.

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