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Reading: Canary Capital’s Litecoin ETF Gains Momentum with DTCC Listing
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COINTURK NEWS > Litecoin (LTC) > Canary Capital’s Litecoin ETF Gains Momentum with DTCC Listing
Litecoin (LTC)

Canary Capital’s Litecoin ETF Gains Momentum with DTCC Listing

In Brief

  • Canary Capital's Litecoin ETF is now listed by DTCC.

  • SEC’s approval process for the ETF is ongoing.

  • Other altcoin ETF applications are increasing significantly.

İlayda Peker
İlayda Peker 4 months ago
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Canary Capital’s application for a spot Litecoin exchange-traded fund (ETF) has been officially listed by the Depository Trust and Clearing Corporation (DTCC) in the United States. According to Nasdaq data, DTCC is a leading financial institution that provides post-trade clearing, settlement, and information services. The ETF, which is listed under the symbol “LTCC,” is seen as a positive sign in preparation for its launch. However, this listing does not guarantee that the ETF will receive approval from the U.S. Securities and Exchange Commission (SEC), as it has not yet been authorized.

Contents
The Approval Process for Spot Litecoin ETF ContinuesETF Applications Surge for Other Altcoins

The Approval Process for Spot Litecoin ETF Continues

DTCC indicates that a significant portion of listed ETFs are inactive and still in the preparatory phase before launch. These funds become operational only after receiving all necessary regulatory approvals. For instance, a spot Ethereum $2,522 ETF previously applied for by VanEck opened for trading on the Cboe exchange two months after being listed by DTCC.

DTCC – Spot Litecoin ETF

Last month, the SEC requested public feedback regarding Canary Capital’s spot Litecoin ETF. The ongoing process, submitted via a 19b-4 form by Nasdaq, was published in the Official Gazette on February 4, 2025. The SEC has a 45-day evaluation period for this application, which can be extended up to a maximum of 90 days.

ETF Applications Surge for Other Altcoins

In addition to the Litecoin ETF, the SEC has accepted and is evaluating spot ETF applications for popular altcoins like XRP, Solana $147, and Dogecoin $0.170601. Many companies are closely monitoring how the SEC will approach the approval of these funds.

Recent regulatory changes introduced by the SEC have led to a remarkable increase in ETF applications in the cryptocurrency space. The positive attitude of the Donald Trump administration towards the cryptocurrency market has raised the likelihood of these financial products receiving approval.

Following the DTCC listing, Litecoin’s main network asset, LTC, has seen an upward trend. According to CoinMarketCap, LTC is currently trading at $134.51, reflecting a 2% increase over the last 24 hours.

You can follow our news on Telegram, Facebook, Twitter & Coinmarketcap
Disclaimer: The information contained in this article does not constitute investment advice. Investors should be aware that cryptocurrencies carry high volatility and therefore risk, and should conduct their own research.

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İlayda Peker 21 February, 2025 - 11:06 am 21 February, 2025 - 11:05 am
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