Ex-Valkyrie Founder’s Canary Capital Group Files for First Litecoin ETF [ej6kTKb7IiI]

Ex-Valkyrie Founder’s Canary Capital Group Files for First Litecoin ETF [ej6kTKb7IiI]

| 1h 28m 28s | Video has closed captioning.

The filing comes seven days after the one-month-old firm submitted paperwork for an XRP ETF. Canary Capital Group has filed to launch an exchange-traded fund tracking the price of Litecoin. The firm, which was founded by former Valkyrie Funds co-founder Steven McClurg, is the first to apply for such a fund. The current submission in the form of a S-1 filing is a first step but meaningless unless it is followed by a 19b-4 filing. Canary Capital Group, a new digital asset-focused investment firm founded by former Valkyrie Funds co-founder Steven McClurg, seemingly wants to become a leader in the world of crypto exchange-traded funds (ETFs) rather than a follower. The firm on Tuesday submitted paperwork to launch the Canary Litecoin (LTC) ETF. The token is the native cryptocurrency of Litecoin, an open-source blockchain project whose code is copied from Bitcoin’s. Though several non-native ETF issuers have launched crypto funds this year, this is the first filing for a fund tied to LTC. For Canary, which is only about a month old, this marks the second ETF that the firm has plans to launch after it filed documents for an XRP fund with the Securities and Exchange Commission (SEC) a week ago. Both filings have yet to disclose the management fee or ticker for the potential fund. The firm submitted an S-1 document on Tuesday, a requirement for companies seeking to issue a new security and be listed on a public stock exchange. It is one of two filings needed to launch an exchange-traded product. The filing is thought to be the first step in introducing a fund, but it is meaningless if it isn’t followed by the 19b-4 filing, which signals a rule change at the stock exchange on which the fund would be traded. The latter requires the SEC to stick to a strict timeline in approving or denying the application, while the regulator has no requirement to respond to the S-1 filing. LTC jumped 5% higher on the news of the filing, trading at $66.46 as of price time. #crypto #bitcoin #ethereum #cryptocurrency #news #blockchain #litecoin #cryptonews #cryptonewstoday #cryptoworld #cryptonewstoday ***NOT FINANCIAL, LEGAL, OR TAX ADVICE! JUST OPINION! I AM NOT AN EXPERT! I DO NOT GUARANTEE A PARTICULAR OUTCOME I HAVE NO INSIDE KNOWLEDGE! YOU NEED TO DO YOUR OWN RESEARCH AND MAKE YOUR OWN DECISIONS! THIS IS JUST ENTERTAINMENT! This information is what was found publicly on the internet. This information could’ve been doctored or misrepresented by the internet. All information is meant for public awareness and is public domain. This information is not intended to slander harm or defame any of the actors involved but to show what was said through their social media accounts. Please take this information and do your own research. bitcoin, blockchain, crypto, cryptocurrency, altcoin, investment, ethereum, bitcoin crash, xrp, cardano, ripple #etc bitcoin steuerfrei #bitcoin vertex erfahrungen #moons crypto #wisdomtree crypto market #shiny crypto lugia