US SEC approves Litecoin ETF request by Canary Capital for easier investing in cryptocurrencies.
The US Securities and Exchange Commission (SEC) has accepted Canary Capital’s request to launch a Litecoin (LTC) Exchange-Traded Fund (ETF) and has initiated a public comment period. According to Eric Balchunas, a senior ETF analyst at Bloomberg, this is the first Altcoin ETF request to receive preliminary approval. Canary Capital, which had previously submitted an ETF request for Ripple (XRP), intends to launch this product in collaboration with Nasdaq. This move comes after the approval of Bitcoin (BTC) ETF in January 2024 and Ethereum (ETH) ETF last May, and could make investing in Litecoin easier through standard brokerage accounts.
