Canary Capital Intends to Launch a Spot Litecoin ETF
Canary Capital has applied to the US Securities and Exchange Commission to register a Litecoin exchange-traded fund, shortly after filing for a similar XRP product.
The Canary Litecoin ETF, as stated in their filing, will provide investors with exposure to the price of LTC held by the Trust. The firm has not yet announced the custodian and administrator for the fund.
Founder Steven McClurg previously established Valkyrie Funds, which offers other spot crypto ETFs.
According to a statement from Canary Capital, Litecoin plays a vital role in the cryptocurrency market and has the potential to attract institutional investors.
The firm believes that Litecoin presents a unique and compelling opportunity due to its long-standing track record of security and reliability, as well as its use cases in the enterprise sector.
