Ex-Valkyrie Founder’s Canary Capital Group Files for First Litecoin ETF
Summary
Canary Capital Group, founded by Steven McClurg, aims to lead in crypto ETFs, submitting paperwork for the Canary Litecoin (LTC) ETF. This marks the first LTC-tied fund filing and follows a recent XRP fund filing. The firm, about a month old, has not disclosed management fees or tickers for these funds. An S-1 document was submitted, necessary for listing on a public stock exchange, but requires a 19b-4 filing for further progress. The SEC must adhere to a timeline for the 19b-4 but not the S-1. LTC's price rose 5% to $66.46 following the filing news.
