🌎 Litecoin ETF Listed on DTCC Amid SEC Review

Litecoin ETF Listed on DTCC, Paving Way for Potential Launch

Canary Capital’s spot Litecoin ETF has been listed on the Depository Trust and Clearing Corporation (DTCC) under the ticker LTCC, marking a significant step toward its potential launch. This listing indicates that the necessary infrastructure for trading is being put in place, although it does not guarantee regulatory approval.

The DTCC serves as a key clearing and settlement provider for U.S. securities, listing both active ETFs and pre-launch funds awaiting approval. The ETF still requires approval from the U.S. Securities and Exchange Commission (SEC) before it can begin trading.

Background and Potential Impact

Canary Capital initially filed for its Litecoin ETF in October 2024, ahead of similar applications from Grayscale and CoinShares. If approved, it would be the first U.S. spot ETF for a cryptocurrency beyond Bitcoin and Ethereum, potentially paving the way for additional altcoin-based ETFs.

The SEC is currently reviewing the application, following Nasdaq’s 19b-4 filing for the fund. Last month, the agency opened the proposal for public comments, and it has up to 90 days from February 4 to reach a decision.

Expert Insights and Market Reaction

Bloomberg ETF analyst Eric Balchunas recently shared his thoughts on the matter, stating,

Doesn’t mean it’s approved or ready to start trading, but it does show the issuer is making preparations for when it is. We still at 90% odds.

Balchunas believes there is a 90% likelihood that the Litecoin spot ETF would be approved and has previously expressed optimism about the possibility of other altcoin ETFs like Ripple and Solana getting approved in 2025.

Following the news, Litecoin has surged 4% in the past 24 hours, reflecting increased investor optimism about the ETF’s potential approval. Key statistics on Litecoin’s recent performance include: