California Jury Awards $40 Million in Johnson & Johnson Talc Cancer Lawsuit 
Air Force One Delivery Delayed to 2028 as Boeing Faces Rising Costs 
SK Hynix Labeled “Investment Warning Stock” After Extraordinary 200% Share Surge 
Trello Outage Disrupts Users as Access Issues Hit Atlassian’s Work Management Platform 
FxWirePro- Major Crypto levels and bias summary 
ETHUSD Dips Below $3000 on BOJ Rate Hike Fears: Buy the Dip at $2700, Targeting $4000? 
CMOC to Acquire Equinox Gold’s Brazilian Mines in $1 Billion Deal to Expand Precious Metals Portfolio 
Trump Signs Executive Order to Establish National AI Regulation Standard 
SpaceX Reportedly Preparing Record-Breaking IPO Targeting $1.5 Trillion Valuation 
Biren Technology Targets Hong Kong IPO to Raise $300 Million Amid China’s AI Chip Push 
Intel’s Testing of China-Linked Chipmaking Tools Raises U.S. National Security Concerns 
Ford Takes $19.5 Billion Charge as EV Strategy Shifts Toward Hybrids 
Azul Airlines Wins Court Approval for $2 Billion Debt Restructuring and New Capital Raise 
Canary Capital has officially filed to launch a Litecoin ETF, positioning the veteran cryptocurrency alongside XRP in the quest for ETF approval. The filing underscores Litecoin's long-standing security and reliability amid a volatile market.
Canary Capital Files for Litecoin ETF
Canary Capital, an investment business specializing in cryptocurrencies, has submitted paperwork to establish a Litecoin ETF in the United States.
Investors will be able to gain direct access to the original cryptocurrency using this offering.
Volatility and Regulatory Concerns
Digital assets are mostly unregulated and subject to high levels of volatility, two of the risk factors mentioned in the file.
Even though it debuted in 2011, Litecoin is still one of the oldest blockchain networks, according to Canary Capital, and it has "a proven track record of security and reliability."
Litecoin’s Surprising Transaction Surge
Litecoin celebrated its thirteenth anniversary earlier this month. Although it did not garner much attention, the cryptocurrency has had its highest amount of transactions to date (77 million and counting) in 2024. This early alternative cryptocurrency sometimes called the "silver" to Bitcoin's "gold," is still one of BitPay's most popular payment methods.
Litecoin's Declining Market Position
Nevertheless, LTC has fallen from its previous position as a top 10 cryptocurrency to a lowly 27th on CoinGecko. It will be listed underneath Uniswap (UNI) and Sui (SUI), among others. This altcoin is worth $5.1 billion.
Institutional Demand for Litecoin ETF Expected
As reported by U.Today, the investment firm has high hopes for the potential demand from institutions for the proposed ETF product.
This follows Canary Capita's recent filing to introduce an XRP ETF. For this product, it filed Form S-1. The first cryptocurrency index fund manager to apply for an XRP ETF was Bitwise.
SEC Approval Still Unlikely
Bitcoin and Ethereum exchange-traded funds have already been approved by the SEC. Unfortunately, we shouldn't expect these items to receive approval from the government anytime soon. Many large financial institutions, like BlackRock, have already said they will not be looking at alternative cryptocurrency exchange-traded funds.
