Canary Capital plans to launch a litecoin ETF, just a week after the fund manager filed for an ETF to directly hold Ripple’s XRP token. The Canary Litecoin ETF would hold litecoin (LTC) and have a net asset value based on the CoinDesk Litecoin Price Index, the filing notes
LTC is ranked as the 27th-largest token by market capitalization, currently worth nearly $5.3bn, and has been running since 2009.
Canary claims that litecoin has proven “a proven track record of security and reliability with significant enterprise-grade use cases”
The proposed LTC ETF still needs to be approved by the US Securities and Exchange Commission (SEC), which would normally take months.
