Canary Capital Files for a Spot Litecoin ETF

According to a recent filing with the Securities and Exchange Commission (SEC), Canary Capital Group has ambitions to lead rather than follow in the world of crypto exchange-traded funds (ETFs).

It has submitted paperwork to launch the Canary Litecoin (LTC) ETF, which would be the first fund tied to the native cryptocurrency of Litecoin.

While other non-native ETF issuers have already launched crypto funds this year, this would be a significant move for Canary, which was founded just a month ago by former Valkyrie Funds co-founder Steven McClurg.

The firm had previously filed documents for an XRP fund and has yet to disclose the management fee and ticker for either potential fund.