Litecoin (LTC) could become the next spot crypto exchange-traded fund (ETF) to be launched in the United States after Nasdaq submitted a 19b-4 filing with the US Securities and Exchange Commission (SEC) to list Canary’s Litecoin ETF. This development has stirred gains for LTC, which is up by 32% in seven days.
According to Bloomberg ETF analyst Eric Balchunas, Litecoin’s ETF filing “has all the boxes checked,” and it could become the next crypto ETF after Bitcoin (BTC) and Ethereum (ETH).
“The first altcoin ETF of 2025 is about to be on the clock. I don’t see any reason why this would be withdrawn either, given the SEC gave comments on the S-1. Litecoin is seen as a commodity, and there’s a new SEC sheriff in town,” Balchunas stated.
The analyst’s speculation comes amid reports that *****’s administration will likely approve more altcoin ETFs, with much focus being on Solana (SOL) and Ripple (XRP).
However, the frenzy around the next crypto ETF to debut on US markets has stirred debate around whether Dogecoin (DOGE), which is the 7th largest cryptocurrency by market capitalization, is being overlooked.
Debate around a Dogecoin ETF
The President of ETF Store, Nate Geraci, has expressed shock over the lack of any submitted filings by issuers looking to list a spot Dogecoin ETF. In an X post, Geraci noted that this ETF had a high chance of approval under *****’s administration.
“I remain shocked that no issuer has filed for a Dogecoin ETF… Best case, you get an extremely lenient SEC who approves it, along with Elon touting it,” he said.
The founder of McKay Research, James McKay, agreed with the sentiment saying that the meme coin would be part of the conversation in the US government for the next four years due to the Department of Government Efficiency (DOGE) being run by Musk.
“DOGE is coming to be in the national conversation for the next 4 years as a minimum via the Federal Government, which is a 2 for 1 pump given the dude running the department is also pushing the crypto,” McKay stated.
However, Geraci noted that one of the worst-case scenarios around this ETF was a high marketing expense. This is because, unlike Litecoin, DOGE is a meme coin that is subject to high volatility. Therefore, investors looking to mitigate the volatility risk of crypto assets could avoid a Dogecoin ETF.