Canary Capital Files for Litecoin ETF Just Days After XRP Move - Decrypt
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Canary Capital Files for Litecoin ETF Just Days After XRP Move
Bitcoin and Ethereum ETFs are now trading—will Litecoin and XRP be next? Canary Capital is betting on the next wave with its filings. Canary Capital announced Tuesday that it has filed an S-1 registration with the U.S. Securities and Exc
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Summary
- 🚀 **Canary Capital Moves**: Canary Capital has filed an S-1 registration with the SEC to launch a Litecoin ETF, just days after filing for an XRP ETF.
- 📈 **Crypto ETF Trend**: The filings indicate growing interest in crypto-backed ETFs, following the SEC's approvals of Bitcoin and Ethereum ETFs earlier this year.
- 🔒 **Litecoin's Appeal**: Canary Capital highlights Litecoin's 100% uptime and proven security as key reasons for its investment potential.
- ⚖️ **XRP's Regulatory Hurdles**: XRP has faced regulatory challenges, including an ongoing lawsuit from the SEC, but interest in an XRP ETF remains strong.
- 💼 **Traditional Investment Vehicles**: These ETF filings reflect a broader trend of asset managers seeking to offer crypto products through traditional investment channels.
Top Highlights
- Canary Capital Files for Litecoin ETF Just Days After XRP Move Bitcoin and Ethereum ETFs are now trading—will Litecoin and XRP be next? Canary Capital is betting on the next wave with its filings.
- Canary Capital announced Tuesday that it has filed an S-1 registration with the U.S. Securities and Exchange Commission (SEC) with the intent of launching a Litecoin exchange-traded fund (ETF). The move comes less than a week after Canary Capital fired an application to launch an XRP-based ETF, following in the footsteps of asset manager Bitwise, ...
- In a statement shared with Decrypt, Canary Capital stated that it believes that Litecoin presents a unique and compelling opportunity for investors seeking exposure to the cryptocurrency.
- “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,” it stated. This filing is part of a broader movement among asset managers seeking to offer crypto-focused products through traditional investment ...
- XRP, created by the founders of Ripple, has faced regulatory challenges, including a lawsuit by the SEC in 2020, which accused Ripple of selling unregistered securities in the form of XRP. Despite this, Bitwise proceeded with the filing, but it remains uncertain whether the SEC will approve the fund. Last year, Ripple secured a partial court victo...
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