Canary Capital’s bid to launch the first US-listed spot Litecoin ETF faces a significant hurdle after the SEC failed to act on its application deadline, leaving industry stakeholders and investors questioning how the agency will navigate its current shutdown. The regulatory silence adds complexity to an already challenging landscape as the SEC’s new listing standards for crypto products are being implemented amidst the government shutdown, which has hampered applications, including those for Litecoin, Solana, XRP, Avalanche, Cardano, Chainlink, and Dogecoin. 19b-4 deadlines have been disregarded in favor of submitting a registration statement, leaving many unsure about their next steps. Adding to the uncertainty, the SEC’s ability to process new applications is severely constrained by the shutdown, leaving only a limited number of staff available for review.