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Canary Litecoin ETF Raising Hopes for Approval as It Gets Listed on DTCC

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Canary Litecoin ETF Raising Hopes for Approval as It Gets Listed on DTCC

Key Points:

  • The Canary Litecoin ETF has been listed on the DTCC under the ticker LTCC.
  • The SEC is evaluating the ETF following Nasdaq’s 19b-4 filing, with a decision expected within 90 days from February 4.

The Canary Litecoin ETF has been listed on the Depository Trust and Clearing Corporation (DTCC) system under the ticker symbol LTCC, a step forward in its potential launch.

Read more: Canary Litecoin ETF Now Acknowledged by SEC to Move Forward to Approval

Canary Litecoin ETF Moves Closer to Approval with DTCC Listing

The DTCC plays a crucial role in the U.S. financial market, providing post-trade clearance, settlement, custody, and information services. Listing on the DTCC establishes the necessary infrastructure for an ETF’s trading, positioning it alongside other active and pre-launch funds.

However, the listing does not guarantee approval from the U.S. Securities and Exchange Commission (SEC), which is still reviewing the application.

Canary Capital initially filed for its Litecoin ETF in October 2024, ahead of similar applications from firms such as Grayscale and CoinShares. If granted approval, the Canary Litecoin ETF would be the first in the U.S. to offer exposure to a cryptocurrency beyond Bitcoin and Ethereum.

Potential Milestone for Altcoin ETFs

The SEC’s review process follows Nasdaq’s 19b-4 filing for the Canary Litecoin ETF, with the regulator currently considering public comments. The agency has a maximum of 90 days from February 4 to reach a decision on the proposal.

Bloomberg ETF analyst Eric Balchunas has expressed confidence in the fund’s chances, estimating a 90% likelihood of approval.

Balchunas has also projected that ETFs for other cryptocurrencies, such as XRP and Solana, may gain regulatory approval by 2025. Multiple issuers have already filed applications for spot ETFs based on XRP, Solana, and Dogecoin, with several acknowledged by the SEC.

DISCLAIMER: The information on this website is provided as general market commentary and does not constitute investment advice. We encourage you to do your own research before investing.
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Avatar of John Kojo Kumi

John Kojo Kumi

21 February 2025, 05:26:00 GMT +0000

John Kojo Kumi is a cryptocurrency researcher and writer specializing in emerging startups, tokenomics, and market dynamics within the blockchain ecosystem. With years of experience in crypto journalism and blockchain research, he provides in-depth coverage of decentralized finance (DeFi), NFTs, and Web3 innovations.

He holds a Bachelor of Arts in Geography and Rural Development from Kwame Nkrumah University of Science and Technology, Kumasi, bringing a multidisciplinary perspective to the evolving digital asset space. As a Crypto News Writer, he tracks and reports on industry trends, while his role as a Registrar at the Commission on Human Rights and Administrative Justice reflects his commitment to governance and transparency.

His expertise spans content strategy, SEO optimization, and technical research, enabling him to craft insightful, data-driven analyses. Passionate about blockchain’s transformative potential, he strives to equip readers with the knowledge to navigate the complexities of digital assets and decentralized technologies.

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