##  [# SEC's Review of Litecoin ETF Sparks Altcoin Surge](/sections/etf-watch/secs-review-litecoin-etf-sparks-altcoin-surge) 

 

# SEC's Review of Litecoin ETF Sparks Altcoin Surge

 

 

Regulator's review of Canary Capital’s spot Litecoin ETF sparks a price jump, while Bitwise joins the race for spot Dogecoin ETF approval.



 

 

 

 

 [![DJ](/sites/default/files/styles/author_image_icon/public/2024-07/5.png?itok=LA-jevm_)](/authors/dj-shaw) 

[By DJ Shaw ](/authors/dj-shaw)

 Jan 30, 2025

 Edited by: Ron Day

 

 

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Canary Capital’s application for a spot Litecoin ETF was formally acknowledged by the Securities and Exchange Commission, pushing the alternative coin up 15% amid a flurry of cryptocurrency applications arriving at the agency since the Trump administration prepared to take office.

The SEC's acknowledgment marks the first time regulators will review an ETF for a cryptocurrency beyond [bitcoin](/topics/bitcoin) and [Ethereum](/topics/ethereum), opening the door for investment firms to potentially offer products tracking smaller digital currencies. The Canary Capital filing, if approved, would allow the trust to list and trade shares tracking Litecoin’s price on Nasdaq, according to a [filing submitted](https://www.sec.gov/files/rules/sro/nasdaq/2025/34-102303.pdf) to the SEC Wednesday.

The push for alternative cryptocurrency ETFs comes amid a transformed regulatory landscape under the Trump administration, with recent changes at the SEC suggesting a more receptive approach to digital asset products. Litecoin’s market capitalization reached $9.9 billion following the news, making it the 18th largest cryptocurrency by market value, according to [data](https://coinmarketcap.com/currencies/litecoin/) from CoinMarketCap.

## Dogecoin Joins ETF Race

In a parallel development, Bitwise Asset Management has entered the expanding crypto ETF landscape with an S-1 registration statement for a spot Dogecoin ETF, according to a [separate filing](https://www.sec.gov/Archives/edgar/data/2053791/000121390025007545/ea0228742-s1_bitwise.htm) with the SEC on Tuesday.

The Bitwise proposal would track Dogecoin through the CF Dogecoin-Dollar Settlement Price, with CoinMarketCap data showing Dogecoin’s current market cap standing at $49.8 billion as the 8th largest cryptocurrency.

The SEC’s Litecoin review begins with the notice of filing, after which the Commission will evaluate whether the proposal meets requirements under the Securities Exchange Act, the filing shows. The initial review period lasts up to 45 days, followed by a total decision window of up to 240 days.

The proposed Litecoin ETF would use the CoinDesk Litecoin Price Index, with Coinbase Custody Trust Company serving as custodian for the cryptocurrency holdings, according to the filing.

The wave of new ETF filings targeting cryptocurrencies indicates growing institutional confidence in the sector following successful bitcoin and Ethereum ETF launches, which have attracted billions in inflows since their approval.

 
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  A graduate of The University of Texas, Arlington with a BA in Communications, DJ has covered retirement plans, mortgage news, and financial advisor…   [View Bio](/authors/dj-shaw)

 



 

 


 Related Topics  [Crypto](http://www.etf.com/topics/cryptocurrency) 

 [Bitcoin](http://www.etf.com/topics/bitcoin) 

 [Ethereum](http://www.etf.com/topics/ethereum)