Litecoin ETF’s rising market potential excites traders as SEC awaits key approval resolution.
Key Takeaways
- Canary Capital’s Litecoin spot ETF is listed on the DTCC below ticker LTCC.
- The ETF is anticipated to be the primary to obtain SEC’s resolution amongst comparable purposes.
Canary Capital’s spot Litecoin ETF has appeared on the Depository Belief and Clearing Company (DTCC) system below the ticker LTCC, marking a key preparatory step for the fund’s potential launch.
The DTCC itemizing establishes the required buying and selling infrastructure for the ETF, although SEC approval stays pending. DTCC serves as the first clearing and custody service supplier for US securities transactions.
Canary Capital filed its spot Litecoin ETF software in October 2024, adopted by comparable filings from asset managers together with Grayscale and CoinShares. The Canary software is predicted to be the primary to obtain an SEC resolution.
Bloomberg ETF analysts Eric Balchunas and James Seyffart view the outlook for Litecoin-based funds as extra favorable in comparison with different crypto asset funds. The analysts observe that the ETF meets approval necessities, with Litecoin already categorized as a commodity by the CFTC.
Litecoin’s value has risen over 100% for the reason that first Litecoin ETF submitting was submitted to the SEC, in accordance with CoinGecko information. The digital asset is presently buying and selling at round $130, displaying a 2% enhance previously hour.
