Canary Litecoin ETF(NASDAQ:LTCC)

LTCC is a spot Litecoin (LTC) ETF designed to enhance accessibility and address custody-related challenges by providing direct exposure. Although the majority of LTC are held in a cold wallet storage, a portion may be kept in hot storage. Each day at 4:00 pm EST, holdings are valued based on the benchmark index, with adjustments made for incurred expenses and other liabilities. The index price is calculated using a weighting algorithm that incorporates price and trading volume data from the preceding 24-hour period. The fund acknowledges the index as a reliable indicator of LTCs average spot price, but its main focus remains on ensuring integrity. Litecoin serves as a faster and more cost-effective alternative to Bitcoin (BTC), utilizing the Crypt hashing algorithm, which supports more decentralized mining. It also features a 2.5-minute block time compared to BTCs 10 minutes and a maximum supply of 84 million coins versus BTCs 21 million. ETF units cannot be redeemed for LTC.