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Key Takeaways
- Canary Capital’s Litecoin spot ETF is listed on the DTCC under ticker LTCC.
- The ETF is anticipated to be the first to receive SEC’s decision among similar applications.
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Canary Capital’s spot Litecoin ETF has appeared on the Depository Trust and Clearing Corporation (DTCC) system under the ticker LTCC, marking a key preparatory step for the fund’s potential launch.
The DTCC listing establishes the necessary trading infrastructure for the ETF, though SEC approval remains pending. DTCC serves as the primary clearing and custody service provider for US securities transactions.
Canary Capital filed its spot Litecoin ETF application in October 2024, followed by similar filings from asset managers including Grayscale and CoinShares. The Canary application is expected to be the first to receive an SEC decision.
Bloomberg ETF analysts Eric Balchunas and James Seyffart view the outlook for Litecoin-based funds as more favorable compared to other crypto asset funds. The analysts note that the ETF meets approval requirements, with Litecoin already classified as a commodity by the CFTC.
Litecoin’s price has risen over 100% since the first Litecoin ETF filing was submitted to the SEC, according to CoinGecko data. The digital asset is currently trading at around $130, showing a 2% increase in the past hour.
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This article first appeared at Crypto Briefing
