#Canary Capital Files for Litecoin #LTC , Expanding Crypto Investment Offerings
Canary Capital has officially filed for a Litecoin (#LTC ) Exchange-Traded Fund (ETF) with the U.S. Securities and Exchange Commission (SEC).
This move follows their recent filing for an XRP ETF, demonstrating increasing interest in crypto-based investment products. The proposed Litecoin ETF aims to simplify access to Litecoin for both institutional and retail investors, avoiding the complexities of directly purchasing, securing, and managing Litecoin through digital wallets and exchanges.
The ETF will track the value of Litecoin, holding LTC as its sole asset. To ensure security, the assets will primarily be stored in cold wallets, with a small portion in hot wallets for immediate transactions.
Shares of the ETF will be traded on secondary markets, allowing investors to gain exposure to Litecoin without directly holding the cryptocurrency.
This filing reflects the growing institutional interest in cryptocurrency ETFs, with Bitcoin ETFs already managing over $60 billion in assets.