The spot LiteCoin ETF of Canary Capital is listed in the Depository Trust and Clearing Corporation under Tick LTCC, an important step towards its possible launch.
EntryWhich is shown on DTCC on Thursday 20 February, does not guarantee the regulator approval, but indicates that the infrastructure required for trading is being placed.
DTCC acts as a significant clearing and settlement provider for American securities, approved both active ETF and pre-launch funds. Finally, ETFs still need approval from the US Securities and Exchange Commission before it can start business.
Canary Capital initially filed for its Litcoin (LTC) ETF in October 2024, which was ahead of similar applications from Grassscale and Coinshrace. If approved, it will be the first US spot ETF for a cryptocurrency beyond bitcoin (BTC) and Ethereum (Eth), which potentially paves the way for additional altcoin-based ETF.
The SEC is currently reviewing the application after the 19B-4 filing of Nasdaq for funds. Last month, the agency opened the proposal for public remarks, and is from February 4 to 90 days to reach the decision.
Bloomberg ETF analyst Eric Balchunus recently shared his views through a post on X. Balchunas believes that 90% is likely to approve Litcoin spot ETF. He has expressed optimism about the possibility of other Altcoin ETFs such as the first Ripple (XRP) and Solan (Sol), which are being approved in 2025.
Following this news, LiteCoin has increased by 4% in the last 24 hours, showing an increase in investor optimism about the possible approval of ETF.
Satisfaction Reports Given the growth of 46% in its market capitalization between February 2 and 19 February, Litcoin surpassed several major cryptocurrency. During this period, it also recorded a daily transaction of $ 9.6 billion.
