PANews reported on October 16 that according to CoinDesk, Canary Capital Group, a new investment company focusing on digital assets, submitted an S-1 application to the U.S. Securities and Exchange Commission (SEC) on Tuesday to launch the Canary Litecoin ETF. The S-1 document is a necessary document for a company to issue new securities and list them on a public stock exchange. It is one of the two documents required to launch an exchange-traded product (the other is a 19b-4 filing document).

Canary Capital Group was founded by Steven McClurg, the former co-founder of Valkyrie Funds. It has only been established for about a month and submitted XRP fund application documents to the US SEC a week ago.