LTC News: Canary Capital Initiates Process to Launch SUI ETF

A significant development in the world of cryptocurrency investing is underway as Canary Capital takes the first steps to launch an ETF focused on SUI, a move that could potentially open up new avenues for investors seeking exposure to this digital asset.

Canary Capital Sets SUI ETF in Motion with Delaware Filing

Canary Capital has submitted a filing to the Delaware Division of Corporations hinting at its intention to launch an SUI ETF. This registration is the first step before submitting an S-1 form to the US Securities and Exchange Commission (SEC). Additionally, the firm will need to submit a 19b-4 filing to the SEC through the exchange where the ETF will be listed. Notably, Canary Capital is the first firm to pursue a SUI ETF and is also exploring funds tracking Litecoin (LTC), XRP (XRP), Solana (SOL), and Hedera (HBAR).

Litecoin Price Drops to $97.8 – What’s Next?

Litecoin’s bullish momentum has cooled off, with the price sliding back to $97.8. The pullback comes amid increasing selling pressure, raising concerns about whether this is a temporary correction or the start of a deeper decline. Traders are closely monitoring market signals to determine the next move as the price approaches key support levels.

Litecoin Holds Bullish Outlook Amid Market Uncertainty

Litecoin (LTC) has demonstrated resilience in the face of market uncertainty and selling pressure. Despite the broader downtrend in cryptocurrencies, LTC has successfully held the $100 support level after retracing from $130. According to Santiment data, LTC’s Market Value to Realized Value (MVRV) Ratio indicates a bullish outlook, suggesting that investors are holding onto their LTC with less incentive to sell at current levels. This could pave the way for a recovery in the near future. However, the coming days will be crucial for Litecoin as Bitcoin remains under pressure.