Litecoin (LTC) Investment Firm Canary Capital Files to Launch Exchange-Traded Fund in the U.S.

The product aims to provide investors with direct exposure to the O.G. altcoin.

Canary Capital filed to launch a Litecoin exchange-traded fund (ETF) in the U.S., according to a filing with the Securities and Exchange Commission (SEC).

The product will give investors direct exposure to the O.G. altcoin.

The filing highlights risks such as extreme volatility and the largely unregulated nature of digital assets.

Canary Capital noted that Litecoin, launched in 2011, is among the longest-running blockchain networks with “a proven track record of security and reliability.”

Earlier this month, Litecoin celebrated its 13th anniversary. Despite not making many headlines, the cryptocurrency recorded its highest number of transactions yet in 2024 (77 million and counting).

One of the first alternative cryptocurrencies, which is often called the “silver” to Bitcoin's “gold,” it remains a popular payment option on BitPay.

However, LTC, despite once being a top 10 cryptocurrency, is now only in 27th place on CoinGecko. It is below tokens such as Uniswap (UNI) and Sui (SUI). The O.G. altcoin is $5.1 billion.

The investment firm believes that the proposed ETF product could attract strong institutional demand.

The move comes shortly after Canary Capital filed to launch an XRP ETF, submitting Form S-1 for the product. Bitwise, the leading cryptocurrency index fund manager, was the first to file for an XRP ETF.

The SEC has already approved ETFs for Bitcoin and Ethereum. However, the agency is unlikely to approve these products anytime soon.

Major firms like BlackRock have stated that they will not be pursuing altcoin ETFs.

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