MetaX IPO Soars as China’s AI Chip Stocks Ignite Investor Frenzy 
Blackstone Leads $400 Million Funding Round in Cyera at $9 Billion Valuation 
Oracle Stock Slides After Blue Owl Exit Report, Company Says Michigan Data Center Talks Remain on Track 
Mizuho Raises Broadcom Price Target to $450 on Surging AI Chip Demand 
TikTok U.S. Deal Advances as ByteDance Signs Binding Joint Venture Agreement 
SpaceX Insider Share Sale Values Company Near $800 Billion Amid IPO Speculation 
OpenAI Explores Massive Funding Round at $750 Billion Valuation 
Toyota to Sell U.S.-Made Camry, Highlander, and Tundra in Japan From 2026 to Ease Trade Tensions 
Amazon in Talks to Invest $10 Billion in OpenAI as AI Firm Eyes $1 Trillion IPO Valuation 
Apple Explores India for iPhone Chip Assembly as Manufacturing Push Accelerates 
Sanofi’s Efdoralprin Alfa Gains EMA Orphan Status for Rare Lung Disease 
Nike Shares Slide as Margins Fall Again Amid China Slump and Costly Turnaround 
LG Energy Solution Shares Slide After Ford Cancels EV Battery Supply Deal 
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.
