$LTC
Cryptocurrency investment firm Canary Capital Group has filed registration documents with the U.S. Securities and Exchange Commission (SEC) to launch the first exchange-traded fund (ETF) to track the price of Litecoin (LTC). The newly-formed digital asset investment firm, founded by former Valkyrie Funds co-founder Steven McClurg, appears intent on becoming a leader in the cryptocurrency ETF space. Canary Capital Group filed documents on Tuesday to launch the Canary Litecoin (LTC) ETF. This is the first time a company has filed for a fund related to LTC. The ETF is designed to hold spot LTC and closely track the performance of the CoinDesk Litecoin Price Index (LTX). Litecoin is a decentralized peer-to-peer digital currency that is often seen as a faster and cheaper alternative to Bitcoin (BTC) for small payments.
Canary Capital Group's filing comes shortly after they filed documents for the XRP fund last week, the second ETF the company plans to launch. While several non-native ETF issuers have launched cryptocurrency funds this year, this is the first time a fund has been filed that is tied to LTC.
