If you're looking at a lithium ETF in terms of producers, there really is only one that is meaningful, and that is the Global Lithium Producers Index ETF, trading under the ticker HLIT. It's reasonable size, with $30M AUM, so it should be able to stick around. Sprott does have lithium miners ETF, but it is so new and has only $4M in AUM, I'm not sure I'd be interested at this point. Trades under the ticker LITP.
The only lithium option here in Canada that I have really found attractive is Lithium Americas, trades under the ticker LAC. The company's Thacker Pass mine, located in Nevada, is not only being developed in a safer mining jurisdiction but also has large-scale potential. Thacker Pass is expected to enter production sometime around 2025 and is one of the most advanced lithium projects currently known to be in development in the USA.
The company expects revenue generation of around $264M in 2023 and $621M in 2024 as it finally starts to generate revenue. This puts it at around 7x sales in terms of valuation. Keep in mind, they are expected to earn about a $1.20 a share as well, which actually puts it at only 16x expected earnings.
The reasoning for what would seem to be a "low" earnings multiple is just the uncertainty. This is still a very speculative investment, but is the company I would buy if I was looking to take a position in the lithium sector. That said, I will admit there are much more knowledgeable people than I when it comes to mining companies. It is not my forte as I generally do not invest in them.