The US SEC failed to make a decision on the Canary spot LTC ETF due to the government shutdown.

On October 3rd, the U.S. Securities and Exchange Commission took no action on Thursday, the original deadline for its decision, leaving Canary Capital's spot litecoin exchange-traded fund in limbo. The SEC's silence left the crypto community uncertain about how the regulator would operate during the federal government shutdown and how its new common listing standard would affect the timelines for dozens of crypto ETF applications awaiting approval. Bloomberg ETF analyst James Seyffart and FOX News reporter Eleanor Terrett noted that the old 19b-4 deadlines for crypto ETF applications may no longer apply, as the SEC has asked applicants to withdraw these deadlines, leaving only the S-1 registration statement as the only document requiring regulatory approval. In August, the SEC released an "action plan" in response to the government shutdown, stating that it would "no longer review and approve registration applications." This includes new financial products, changes to self-regulatory organization rules, and reviewing or expediting the effectiveness of registration statements. It's unclear whether the SEC's silence on Canary's spot Litecoin ETF is entirely due to the government shutdown or is also a result of the new common listing standards, which will render the 19b-4 deadline irrelevant. Canary withdrew its 19b-4 application on September 25th at the SEC's request, which may have been a factor in the SEC's decision on Thursday. It's unclear what impact the 19b-4 application will have on applicants that haven't withdrawn their filings.