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Canary Capital Files for Litecoin ETF, LTC Price Surges

Mary Liu

Summary: Cryptocurrency investment firm Canary Capital has taken another step toward bringing Litecoin to the mainstream, submitting an S-1 form for a Litecoin exchange-traded fund (ETF) to the U.S. Securities and Exchange Commission (SEC). The move comes after Canary Capital previously filed for a spot XRP ETF. The company, founded by Steven McClurg, a former co-founder ...

Cryptocurrency investment firm Canary Capital has taken another step toward bringing Litecoin to the mainstream, submitting an S-1 form for a Litecoin exchange-traded fund (ETF) to the U.S. Securities and Exchange Commission (SEC).

The move comes after Canary Capital previously filed for a spot XRP ETF. The company, founded by Steven McClurg, a former co-founder of Valkyrie Funds, is the first to seek SEC approval for a Litecoin ETF.

News of the filing sent LTC prices soaring, with the cryptocurrency breaking through the $70 mark and reaching $70.48, representing a 24-hour increase of 5.76%.

The SEC's decision on Canary Capital's application will be closely watched by the cryptocurrency industry, as it could pave the way for greater institutional investment in Litecoin and other cryptocurrencies.

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