Fox Reporter: Litecoin founder expresses optimism about LTC ETF application, stating strong institutional demand

Fox Business reporter Eleanor Terrett posted on the X platform stating: Litecoin founder Charlie Lee (@SatoshiLite) has expressed a positive attitude towards Canary Capital's recent submission of a Litecoin ETF application. He pointed out that institutional demand for Litecoin is constantly increasing, as can be seen from the daily growth of Grayscale Litecoin Trust, its price has exceeded twice the net asset value (NAV). He said: "Given that Litecoin is similar to Bitcoin and serves as a commodity, I hope that the Litecoin ETF will be approved soon."

Previously, Canary Capital had formally submitted an S-1 application for LTC ETF to the U.S. Securities and Exchange Commission (SEC). Canary is a new crypto investment company founded by Valkyrie Funds founder Steven McClurg.