Over the last month, the US Securities and Exchange Commission (SEC) has undergone a massive shift in its crypto policy. That is set to completely revamp its offerings in the United States. Indeed, one expert notes that a recent SEC acknowledgment has a Litecoin ETF inching closer to approach.
That isn’t all, as the agency acknowledged two key filings. The first was related to Grayscale’s LTC ETF, while the other was a request for in-kind redemptions on BlackRock’s Bitcoin ETF. The development looks to mark a clear step toward the approval of both filings.
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SEC Brings Litecoin ETF and In-Kind Bitcoin ETF Redemptions Edging Closer to Approval
There is no denying that the election of US President Donald Trump has completely shifted the country’s crypto policy. With his return to the White House, the country has selected its first true pro-crypto president. Just two months into his second term, and that is already beginning to play out.
It took another step forward today as key cryptocurrency investment products saw their process toward approval move forward. Indeed, the SEC has acknowledged two key filings, bringing a Litecoin ETF inching closer to a green light.
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According to Bloomberg’s Erich Balchunas, development is an important part of the process. In a post to X (formerly Twitter), the analysts noted that the Litecoin ETF now has “all the boxes checked.” Moreover, it reaffirms the reality that LTC will be the basis for the first ETF launch in 2025.
This step has been taken similarly with the BlackRock iShares Bitcoin ETF (IBIT). The product has been called the “greatest launch in ETF history” and was a massive reason for BTC momentum at the tail end of 2024. If approved, the change would allow a direct transfer of Bitcoin to investors during redemptions, rather than converting the cryptocurrency into cash.
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