Crypto fund supervisor Canary Capital’s spot Litecoin exchange-traded fund (ETF) has been added to the Depository Belief and Clearing Company (DTCC) ETF checklist. The itemizing below the ticker LTCC appeared on its official web site, late Thursday.
The funding agency filed for the Litecoin ETF in October 2024, concurrently its proposed XRP ETF.
Canary’s spot Litecoin ETF remains to be pending regulatory approval from the US Securities and Alternate Fee (SEC). Nonetheless, the DTCC itemizing marks a preparatory step in direction of its potential launch.
“This file contains each lively ETFs that could be processed at DTCC and ETFs that aren’t but lively (pre-launch) and, subsequently, usually are not capable of be processed at DTCC, except and till such securities have acquired all vital regulatory and different approvals,” the official web site famous.
Nasdaq described the DTCC as a supplier of post-trade clearance, settlement, custody and data companies.
“[The listing] doesn’t imply it’s authorised or prepared to begin buying and selling, nevertheless it does present the issuer is making preparations for when it’s,” wrote Bloomberg chief ETF analyst Eric Balchunas.
He added that there’s a 90% chance that Canary’s Litecoin spot ETF could be authorised. If authorised, Litecoin would turn out to be third, after Bitcoin and Ether, to function a base asset for a spot ETF.
Doesnt imply it’s authorised or prepared to begin buying and selling, nevertheless it does present the issuer is making preparations for when it’s. We nonetheless at 90% odds. $LTCC https://t.co/ugQgsO9fIB
— Eric Balchunas (@EricBalchunas) February 21, 2025
Following the itemizing, Litecoin has soared 0.3% within the final 24 hours, indicating elevated investor optimism on the ETF’s approval. Litecoin is at present buying and selling at $135.02 at press time, in accordance with CoinMarketCap.
Additional, the crypto has outperformed with a 46% improve in its marketcap between February 2 and February 19, Santiment reported.
SEC Able to Advance Litecoin and Different Crypto ETFs
Early this month, the SEC acknowledged a number of functions for crypto ETFs, together with these of Solana, Litecoin and XRP. The transfer has tied the regulator to a strict deadline for approval or denial.
In line with Balchunas, the SEC’s acknowledgement is a “notable” transfer. The regulator, which beforehand deemed a crypto as “safety,” is mulling to approve a fund monitoring the crypto’s worth.
“We are actually in new territory, albeit only a child step, however seemingly the direct results of management change,” he wrote on X.
Notable bc that is the primary time an ETF submitting monitoring a coin that had prev been known as a "safety" has been acknowledged by SEC. Solely six weeks in the past the Genz-led SEC advised CBOE to withdrawal their Solana 19b-4. So we are actually in new territory, albeit only a child step, however… https://t.co/XiRyA8g3R7
— Eric Balchunas (@EricBalchunas) February 6, 2025
Notably, Litecoin is compliant with a couple of regulatory standards, on condition that it’s already acknowledged as a commodity by the Commodity Futures Buying and selling Fee (CFTC).
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