Canary Capital Group Moves to Launch Litecoin ETF Following XRP Filing
Canary Capital Group has filed to create an exchange-traded fund for Litecoin, becoming the first firm to do so after submitting similar paperwork for an XRP ETF.
Canary Capital Group has recently submitted a filing to establish an exchange-traded fund that tracks the price of Litecoin.
The firm, founded by former Valkyrie Funds co-founder Steven McClurg, is the pioneer in applying for such a fund. This filing follows another application for an XRP ETF just a week prior.
The S-1 filing submitted is just the beginning of the process; it must be followed by a 19b-4 filing to be valid. However, this current filing alone does not signify an immediate establishment of the fund.
Litecoin's price has seen a 5% increase following the announcement of this filing, now trading at approximately $66.46.
Image Caption: Canary Capital Group, a new digital asset-focused investment firm, has plans to launch an exchange-traded fund tied to Litecoin. (Litecoin Foundation)
