Canary Capital Files to Launch Spot Litecoin ETF With the SEC

After the filing of spot XRP ETF (Exchange Traded Fund) in the United States, Canary Capital Group has filed to launch a spot Litecoin ETF with the Securities and Exchange Commission (SEC).

Canary Capital, a digital asset investment firm founded about a month ago, has filed to launch a spot Litecoin ETF with the Securities and Exchange Commission (SEC).

The filing, which was made on October 15, 2024, reveals the firm’s intention to launch the “Canary Litecoin ETF.” However, details regarding the custodian and administrator were not included in the filing.

According to Form S-1, Canary Litecoin ETF will provide investors with the opportunity to gain exposure to LTC through a traditional brokerage account. The firm highlighted the challenges involved in acquiring and holding XRP directly, stating, “The Trust provides investors with the opportunity to access the market for XRP through a traditional brokerage account without the potential barriers to entry or risks involved with acquiring and holding XRP directly.”

The filing has sparked interest within the crypto community due to Canary Capital’s recent launch and the involvement of Steven McClurg, who played a key role in establishing the first Bitcoin and Ethereum ETFs in the United States through Valkyrie Fund.

Canary Capital further emphasizes Litecoin’s significance in the broader cryptocurrency ecosystem and its potential to attract institutional investors’ attention. “Canary believes that Litecoin presents a unique and compelling opportunity for investors seeking exposure to a time-tested and reliable cryptocurrency,” the firm stated.

“As one of the longest-running blockchains with 100% uptime since its inception, Litecoin has demonstrated a proven track record of security and reliability with significant enterprise-grade use cases.”

notably, Bloomberg’s ETF expert James Seyffart took to X (formerly Twitter) to highlight that some ETPs already hold Litecoin, separate from this filing. Among them are one from CoinShares in Switzerland, another from ETC Group LLC in Germany, and Grayscale also has one in the United States.

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