Canary Capital’s spot Litecoin ETF has been listed on the Depository Belief and Clearing Company underneath the ticker LTCC, marking a key step towards its potential launch.
The itemizing, which confirmed up on DTCC late Thursday Feb. 20, doesn’t assure regulatory approval however alerts that the required infrastructure for buying and selling is being put in place.
The DTCC serves as a key clearing and settlement supplier for U.S. securities, itemizing each energetic ETFs and pre-launch funds awaiting approval. Finally, the ETF nonetheless requires approval from the U.S. Securities and Change Fee earlier than it could start buying and selling.
Canary Capital initially filed for its Litecoin (LTC) ETF in October 2024, forward of comparable purposes from Grayscale and CoinShares. If authorised, it could be the primary U.S. spot ETF for a cryptocurrency past Bitcoin (BTC) and Ethereum (ETH), probably paving the best way for added altcoin-based ETFs.
The SEC is at present reviewing the applying, following Nasdaq’s 19b-4 submitting for the fund. Final month, the company opened the proposal for public feedback, and it has as much as 90 days from Feb. 4 to achieve a call.
Bloomberg ETF analyst Eric Balchunas just lately shared his ideas via a submit on X. Balchunas believes there’s a 90% chance that the Litecoin spot ETF can be authorised. He has beforehand expressed optimism about the potential of different altcoin ETFs like Ripple (XRP) and Solana (SOL) getting authorised in 2025.
Following the information, Litecoin has surged 4% up to now 24 hours, reflecting elevated investor optimism in regards to the ETF’s potential approval.
Santiment studies that Litecoin outpaced a number of main cryptocurrencies, seeing a 46% improve in its market capitalization between February 2 and February 19. Throughout this era, it additionally recorded a every day transaction quantity of $9.6 billion.
