Today, leading digital asset-focused investment firm Canary Capital has filed an S-1, with the U.S. Securities and Exchange Commission (SEC), for the first Litecoin LTC ETF. With guidance from Canary’s CEO, Steven McClurg, the former co-founder and Chief Investment Officer of Valkyrie Funds, the issuers of the Coinshares Valkyrie Bitcoin Fund ETF, Steven established Canary Capital to drive innovation and deliver actively managed private strategies to meet institutional demand for sophisticated cryptocurrency investment solutions. If approved, the ETF will provide both consumer and institutional investors with wide-spread direct exposure to Litecoin ‘LTC’. 

‍

Statement from Canary Capital:

Canary believes that Litecoin presents a unique and compelling opportunity for investors seeking exposure to a time-tested and reliable cryptocurrency. As one of the longest-running blockchains with 100% uptime since its inception, Litecoin has demonstrated a proven track record of growth and reliability with significant enterprise-grade use cases. With its strong foundation, Litecoin continues to play a leading role in the broader cryptocurrency ecosystem, which Canary believes could make it attractive to a wider range of institutional investors. 

• Litecoin, which celebrated its 13th anniversary on October 13th, is the longest-running blockchain with 100% uptime, a remarkable achievement.
• Litecoin usage is at an all time high, with over 77 million transactions so far in 2024 (as of Oct 11th) up from a record 67 million in 2023.
• Built on a similar codebase to Bitcoin, reinforcing its position as a secure and non-security asset.
  • In technical details, the Litecoin main chain shares a slightly modified Bitcoin codebase. The practical effects of those codebase differences are lower transaction fees, faster transaction confirmations, and faster mining difficulty retargeting. Making LTC a leading solution for many of Bitcoin's problems, including micro-transactions and remittances.
• Creator Charlie Lee remains heavily involved in Litecoin, and has made several contributions to the code and broadly to improvements in the crypto space (most notably SegWit and MWEB).
• Litecoin has been the #1 crypto of choice for real world payments with one of the largest payment processors, Bitpay, all year. Comprising more than a third of all their transactions.
• Litecoin is available on almost every crypto exchange, wallet and crypto payment provider and is 2nd in availability across crypto ATMs. LTC is also available on:
  • Most notably, Paypal (one of only four offered)
  • Recently added to Fidelity's 'Digital Assets' (one of only three offered)

Source : Litecoin - Nov 13, 2024