Litecoin ETF Gains Momentum as Canary Capital’s LTCC Appears on DTCC Listing
Canary Capital’s spot Litecoin ETF has been listed on the Depository Trust and Clearing Corporation (DTCC) system under the ticker LTCC, signaling a key step toward potential market launch.
While the listing establishes essential trading infrastructure, SEC approval is still pending. The DTCC plays a crucial role in clearing and settling securities transactions in the U.S., making its inclusion a notable milestone for the fund.
Canary Capital first filed for its spot Litecoin ETF in October 2024, followed by similar applications from firms like Grayscale and CoinShares. However, Canary’s proposal is expected to be the first to receive a decision from the SEC.
Bloomberg ETF analysts Eric Balchunas and James Seyffart suggest that Litecoin-based ETFs have a better chance of approval compared to other crypto asset funds. They highlight Litecoin’s CFTC classification as a commodity, which strengthens its regulatory standing.
Meanwhile, Litecoin’s price has surged over 100% since the first ETF filing, currently trading around $130, with a 2% gain in the past hour, according to CoinGecko data.
If the SEC grants approval, Canary Capital’s LTCC could become a pioneering Litecoin investment vehicle, attracting institutional and retail investors eager to gain exposure to the asset.
Featured image from: cointelegraph.com