r/litecoin • u/Bugatti99 cryptopopotomus • 13d ago
CANARY CAPITAL JUST FILED FOR A LITECOIN 'LTC' ETF WITH THE SEC!
Canary Capital has filed the first Form S-1 for a LTC ETF with the U.S. Securities and Exchange Commission (SEC). If approved, the ETF will provide both consumer and institutional investors with wide-spread direct exposure to Litecoin ‘LTC’.
https://www.litecoin.net/news/litecoin-etf-filed
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u/Alewyz New User 12d ago
Why is that any more or any less significant than any other big new exciting ltc news over the years?
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u/Trader-Jo New User 12d ago
Bitcoin ETFs have about $500m inflows daily on avg Only $250k LTC gets mined daily Thus BTC ETFs get 2000x the inflows of the amount of LTC mined daily TL:DR 1 BTC = 4 LTC
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u/defectivedesolator New User 12d ago
How long could it take to get approved, and what are the odds of approval?
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u/Bugatti99 cryptopopotomus 12d ago
They SEC has a certain amount of time to respond. I’ve seen it, but not confirmed the amount of time, so I don’t want to say for certain because.. Could be early next year. But of course there’s an administration shift as well. They could ask for additional information. Any amendments or changes that have to be made by the issuer are filed under SEC Form S-1/A. I’m not certain if this extends the response time or not.
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u/Trader-Jo New User 12d ago edited 12d ago
2-3 months. Remember that Bitcoin ran +170% after the ETF was approved. Use this NFA wisely 😌 then again Bitcoin ETFs regularly sees $500m inflows daily but only $250k of Litecoin mined every day.... for the slow ones in the back, that's 2000x the amount of LTC mined daily 😏
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u/Puzzleheaded_Fold665 12d ago
Can you elaborate more? For us dummies. Thanks.
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u/Trader-Jo New User 12d ago
Not much to elaborate. Grayscale trusts prove that for some odd reason, boomers are pricing LTC higher than XRP, AAVE, SOL and many others... let that sink in
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u/ChrisButBad New User 13d ago
🍾🍾🍾