Canary Capital Proposes 0.95% Fee for Spot Litecoin ETF in Regulatory Filing
Canary has confirmed its spot Litecoin ETF will charge a 0.95% management fee, reinforcing details of the planned fund aimed at providing direct exposure to Litecoin.
LTC
Summary
According to Canary, its spot Litecoin exchange-traded fund will carry a 0.95% management fee. This confirms the annual expense ratio outlined in its regulatory filing, pending approval. The ETF seeks to provide investors with regulated access to Litecoin price movements.
Terms & Concepts
- Spot ETF (Exchange-Traded Fund): A type of investment fund traded on stock exchanges that directly holds the underlying asset, such as a cryptocurrency, rather than futures contracts.
- Expense Ratio: The annual fee that a fund charges its shareholders, expressed as a percentage of the fund's assets, to cover operating costs.