Nasdaq and Canary Capital Group submitted new filings to the US Securities and Exchange Commission this week that are key to gaining the regulator’s approval for a spot Litecoin ETF.

Senior Bloomberg ETF analyst Eric Balchunas predicts that Litecoin is the most likely cryptocurrency to receive a U.S. ETF approval next, following recent updates to its S-1 filing with the SEC.

A so-called form 19b-4, required to be filed by the exchange that would list the fund, was submitted on Wednesday, shortly after an updated registration application known as an S-1 was filed by Canary, a new digital asset-focused investment firm. The SEC must sign off on both before an ETF can start trading.

Grayscale Investments has revised its Litecoin Trust filing with the U.S. Securities and Exchange Commission (SEC), signaling progress in efforts to launch a spot Litecoin exchange-traded fund (ETF).

Canary Capital’s Litecoin ETF could receive the Security and Exchanges Commission’s approval soon. According to Bloomberg Analyst Eric Balchunas, Canary Capital recently received feedback from the US regulator on its S-1 form-filling,