The Securities and Exchange Commission (SEC) is reviewing a proposed rule change submitted by the Nasdaq Stock Market to allow the listing and trading of shares for the CoinShares Litecoin ETF. This proposal was originally filed on February 7, 2025, and published in the Federal Register on February 25, 2025. Although the SEC initially had 45 days to make a decision on the proposal, it has extended the deadline to May 26, 2025, to allow more time to consider the proposal and the issues it raises.
Simple Explanation
The SEC is taking more time to decide if a new type of stock, linked to Litecoin, can be traded on the Nasdaq market. This extra time is to make sure they fully understand everything and make the best choice.