Asset manager Canary Capital has filed an S-1 form with the SEC for a Litecoin (LTC) exchange-traded fund (ETF), making it the first application for a Litecoin-linked spot ETF in the US. This follows their filing for an XRP ETF just a week prior. According to Alex Thorn, head of research at Galaxy Digital, Litecoin is considered to have had a "fair launch" with no pre-mine or token sale, suggesting it may not be considered a security by the SEC. On the other hand, the launch of Solana, which is based on a proof-of-stake consensus algorithm and conducted a token sale, is seen as different from Bitcoin and Litecoin. Analysts suggest that Solana ETF filings may rely on a change in the SEC's approach to classifying crypto assets as securities. Currently, Europe has several LTC funds with a combined $11.5 million in assets under management, while the US market is only served by the Grayscale Litecoin Trust with $127.4 million in assets.



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