According to BlockBeats, on October 16, cryptocurrency investment firm Canary Capital submitted an application to the U.S. Securities and Exchange Commission (SEC) for a spot Litecoin (LTC) exchange-traded fund (ETF). This move marks another step in the growing interest in cryptocurrency ETFs within the financial sector.

Previously, on October 9, Canary Capital had also filed an application with the SEC for a spot XRP ETF, making it the second company this month to apply for such a product. The increasing number of applications for cryptocurrency ETFs indicates a rising demand for regulated investment vehicles in the digital asset space.