Summary
- Asset manager Canary has reportedly submitted 8-1 documents for the launch of Litecoin (LTC) and Hedera (HBAR) ETFs.
- This is a step prior to the formal submission of a registration statement (S-1) to the SEC, described as a procedure for internal review and gauging market reaction.
- The ETF industry said the submission is a sign of diversification of alternative asset-based ETFs.
Asset manager Canary has been confirmed to have submitted 8-1 documents for the launch of Litecoin (LTC) and Hedera (HBAR) exchange-traded funds (ETFs). This is a procedure that corresponds to a step before the formal submission of a registration statement (S-1) to the U.S. Securities and Exchange Commission (SEC).
On the 27th (local time), Bloomberg ETF analyst Eric Balchunas said, "Canary has submitted 8-1 documents related to LTC and HBAR ETFs," adding, "It appears to be a process of internal review and gauging market reaction prior to a formal S-1 submission."
In the ETF industry, the submission is being viewed as a sign of diversification of ETFs based on alternative assets.
JH Kim
reporter1@bloomingbit.ioHi, I'm a Bloomingbit reporter, bringing you the latest cryptocurrency news.
