Asset manager Canary Capital has filed an application with the SEC to register a new exchange-traded fund (ETF) focused on Litecoin.
The ETF will aim to hold spot Litecoin and mirror the performance of the CoinDesk Litecoin Price Index (LTX), according to the filing.
Litecoin is a decentralized peer-to-peer digital currency that is often considered a faster and more lower-cost alternative to Bitcoin for smaller transactions.
This filing comes just days after Canary filed a similar Ripple (XRP)-focused ETF application and shortly after Bitwise also filed a spot XRP ETF application with the SEC.