BREAKING: Footsteps for Spot ETF in One of the Oldest Altcoins – One Development After Another

In a breaking development, CoinShares has filed a new S-1 for the Litecoin ETF. In addition, just minutes after the initial development, Grayscale filed an application for the Litecoin ETF with the NYSE.

However, these developments do not constitute approval.

On Jan. 15, Canary Capital also filed an amended Litecoin ETF application with the Securities and Exchange Commission (SEC). This filing fuels hopes for wider adoption of Litecoin ETFs. While the SEC has yet to make a decision, the industry is hopeful for a positive outcome.

Litecoin ETF is an investment type that aims to give investors exposure to the price movements of Litecoin (LTC) by either holding it as an asset or multiplying its value through derivatives. It allows investors to track LTC price movements without having to own, store or manage the cryptocurrency directly. Investors buy and sell ETFs as stocks on exchanges. For Litecoin ETFs, this involves reflecting the performance of the asset.

Unlike holding Litecoin directly, an ETF offers a simpler method of investing by eliminating the complexity of managing wallets or private keys.

*This is not investment advice.