CandleFocus Litecoin spikes 10% as Canary Capital applies for spot Litecoin ETF
2024-10-15
Author: Content Editor
A crypto-focused investment management firm called Canary Capital has filed an application for a proposed spot Litecoin ETF, making it the first entity to seek approval for an ETF that tracks the spot prices of LTC. Following the filing, the price of Litecoin briefly jumped 10% to $70.8 before settling around $69.5. This comes as interest in crypto investments is increasing, especially after the successful launches of spot Bitcoin and Ethereum ETFs in the US. However, it remains uncertain whether the SEC will approve the proposed ETFs, as the regulator considers most crypto assets (excluding Bitcoin and Ethereum) as securities.
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