May 7, 2025
Dear Securities and Exchange Commission, I am writing to express my strong support for the proposed spot Litecoin (LTC) exchange-traded fund (ETF), as filed by Canary Capital and acknowledged by the SEC for public comment. I believe the approval of a spot Litecoin ETF would be a significant step forward for investors and the broader cryptocurrency market. Litecoin, as one of the longest-standing cryptocurrencies, has a proven track record of stability, decentralization, and market maturity since its launch in 2011. Its proof-of-work consensus mechanism, similar to Bitcoin’s, and its recognition as a commodity by the Commodity Futures Trading Commission (CFTC) underscore its suitability for a regulated investment vehicle like an ETF. The proposed ETF would provide retail and institutional investors with a secure, accessible, and regulated way to gain exposure to Litecoin without the complexities of managing digital wallets or navigating unregulated platforms. The SEC’s acknowledgment of filings from Canary Capital, Grayscale, and CoinShares, along with Nasdaq’s 19b-4 submission, signals growing regulatory engagement with altcoin ETFs. Approving a Litecoin ETF would enhance market transparency, improve liquidity, and strengthen investor protections through robust custody solutions, such as those provided by Coinbase Custody Trust Company, and adherence to Anti-Money Laundering (AML) and Know Your Customer (KYC) regulations. Additionally, the ETF’s structure, tracking the CoinDesk Litecoin Price Index (LTX), ensures reliable pricing and minimizes tracking errors. The success of spot Bitcoin and Ethereum ETFs, which have attracted billions in inflows since their approvals in 2024, demonstrates strong investor demand for regulated crypto investment products. A Litecoin ETF would further diversify investment options, foster innovation, and align with the evolving regulatory landscape under Acting Chair Mark Uyeda and the incoming leadership of Paul Atkins, who has expressed openness to digital assets. I respectfully urge the SEC to consider the overwhelming public and market support for a spot Litecoin ETF, as evidenced by recent price surges and analyst projections of a 90% approval likelihood by Bloomberg experts. Approval would not only benefit investors but also reinforce the United States’ position as a leader in financial innovation. Thank you for the opportunity to provide input. I encourage the Commission to approve the proposed Litecoin ETF to promote fair, transparent, and accessible markets. Sincerely, Sent from my iPhone Roger De Filippo