Canon has announced a firmware update to the C70 to provide Cinema RAW light internal recording for 4K and 1080p recording.
Also according to CineD, you can record in both Cinema RAW LT (up to 4k 60p and ST (up to 4k 30p) modes and also HQ mode but up to 2K in an s16 crop.
You can download the firmware update here: Canon Europe Canon USA
Firmware Version 220.127.116.11 incorporates the following fix and enhancements:
Adds support for the Cinema RAW Light recording modes. Resolution:4096×2160,2048×1080 Bit Depth:12 bit
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