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Canary Capital, Founded by McClurg, Files S-1 for Spot Litecoin ETF with SEC

Oct 15, 2024, 04:40 PM

Canary Capital, a newly formed digital asset-focused investment firm founded by former Valkyrie Funds co-founder Steven McClurg, has filed an S-1 registration statement with the U.S. Securities and Exchange Commission (SEC) to launch a spot Litecoin exchange-traded fund (ETF). The proposed ETF aims to provide investors with direct exposure to Litecoin (LTC), one of the oldest and most reliable cryptocurrencies with 100% uptime since its inception. "Canary believes that Litecoin presents a unique and compelling opportunity for investors seeking exposure to a time-tested and reliable cryptocurrency," the company stated. The filing was reported by Bloomberg Senior ETF Analyst Eric Balchunas and comes shortly after Canary Capital filed for a Ripple (XRP) ETF earlier this month.