Nashville-based Canary Capital has filed an application with the US Securities and Exchange Commission (SEC) to launch the first spot Litecoin ETF in the United States.

A New Phase for Litecoin

The filing follows a recent application for a spot XRP ETF, marking a significant development for Litecoin as institutional interest in the cryptocurrency continues to grow, likening it to Bitcoin in popularity.

Institutional Interest in Litecoin

Litecoin founder Charlie Lee is optimistic about the potential approval of the ETF, citing growing institutional demand. He noted the daily increase in the Grayscale Litecoin Trust, which is currently trading at more than double its net asset value (NAV), as a strong indicator of this demand.

Litecoin’s Structure and Approval Challenges

Litecoin's structure positions it more favorably for ETF approval compared to Solana, which is facing regulatory challenges.

Canary Capital's filing for a spot Litecoin ETF demonstrates increased institutional interest and confidence in the cryptocurrency's stability and popularity. This could mark an important step in the digital asset market's evolution.