Canary Capital’s proposed 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.
The listing, which appeared on the DTCC late Thursday, February 20, does not equate to full regulatory approval. However, it indicates that the necessary infrastructure for trading is being put in place. The DTCC, a key clearing and settlement provider for U.S. securities, lists both active ETFs and pre-launch funds awaiting approval from regulators.
While the ETF’s presence on the DTCC is a positive development, final approval rests with the U.S. Securities and Exchange Commission (SEC). The regulatory body is currently reviewing the application after Nasdaq filed a 19b-4 form on behalf of the fund. In January, the SEC opened the proposal for public comments and has up to 90 days from February 4 to issue a decision.
Canary Capital initially submitted its Litecoin ETF application in October 2024, making it one of the first asset managers to seek approval for a spot Litecoin ETF.
This move came ahead of similar filings from Grayscale and CoinShares. If approved, the fund would become the first U.S.-listed spot ETF for a cryptocurrency beyond Bitcoin and Ethereum, potentially paving the way for additional altcoin-based ETFs.
Bloomberg ETF analyst Eric Balchunas recently shared his insights on X, estimating a 90% likelihood of approval for the Litecoin ETF. He has also expressed optimism about the eventual approval of other altcoin ETFs, including XRP and Solana, in 2025.
“Our official alt coin ETF approval odds are out. Litecoin leads [with] 90% chance, then Doge, followed by Solana and XRP.”
he wrote in the X post.
Meanwhile, Litecoin has seen strong market performance in recent weeks. Data from Santiment reveals that between February 2 and February 19, Litecoin’s market capitalization surged by 46%, outpacing several major cryptocurrencies. During the same period, the network recorded a daily transaction volume of $9.6 billion.
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