The Canary Litecoin ETF (ticker: LTCC) has recently been listed on the DTCC website, marking a crucial step in its journey toward launch. The “Create/Redeem” section is marked as “Y,” part of the standard process when preparing a new ETF. However, SEC approval remains pending.
For the unversed, the DTCC listing is important as it sets up the necessary infrastructure for the ETF’s trading, with the Depository Trust & Clearing Corporation (DTCC) acting as the primary clearing and custody service provider for US securities transactions. However, this does not guarantee that the ETF will be launched.
“This file includes both active ETFs that may be processed at DTCC and ETFs that are not yet active (‘pre launch’) and, therefore, are not able to be processed at DTCC, unless and until such securities have received all necessary regulatory and other approvals,” DTCC said.
Canary Capital filed for the spot Litecoin ETF in October 2024, followed by similar filings from major players like Grayscale and CoinShares. Bloomberg ETF analysts, Eric Balchunas and James Seyffart, are hopeful about the approval chances, explaining that Litecoin’s status as a commodity recognized by the Commodity Futures Trading Commission (CFTC) strengthens the ETF’s position. “We still maintain a 90% probability for Litecoin spot ETF approval,” they said.
Platforms like Polymarket are placing an 85% chance of ETF approval, with some polls suggesting a 52% probability of approval by July 3rd, 2025.
The XRP community is as fiery as ever, with price debates, predictions, and arguments lighting…
China-based Web3 firm Nano Labs is making a daring move by targeting Binance Coin (BNB).…
Bitcoin’s price held $105k in support on Tuesday, with reduced geopolitical tensions in the Middle…
The Shiba Inu community has been watching SHIB’s price move up and down recently, mainly…
Decentralized prediction platform Polymarket is reportedly on the verge of closing a $200 million funding…
Mutuum Finance (MUTM) is igniting fervor in the crypto market, surging through Phase 5 of…