The SEC’s silence on Canary Capital’s spot Litecoin ETF has left the crypto community uncertain amidst a government shutdown and new generic listing standards. Analysts note the old 19b-4 deadlines may be outdated, with S-1 registration statements now the primary document needing approval.

Canary withdrew its 19b-4 application, adding to the uncertainty surrounding the SEC’s decision on the ETF. The impact of the government shutdown and new listing standards on the approval process remains unclear, with the SEC not providing a definitive response.

The SEC remains open during the government shutdown but with limited staff. The EDGAR database will continue operating, providing a level of functionality despite the reduced workforce.

The market anticipates potential approval of new spot crypto ETFs, including altcoins like Solana, XRP, and Cardano, which could add to the $75 billion spot crypto ETF market in the US. Approval would expand the market beyond Bitcoin and Ether ETFs, which have seen significant inflows since launch.

Bloomberg ETF analyst Eric Balchunas believes the SEC’s new listing standards have increased the likelihood of spot crypto ETF approvals to 100%. The streamlined process under Rule 6c-11 is expected to shorten approval timelines, offering investors more choices in accessing digital asset products.

Read more at Cointelegraph: SEC silent on Canary Litecoin ETF Amid Uncertainties