#LitecoinETF Canary Capital’s Litecoin ETF Edges Closer to Approval with DTCC Listing

Canary Capital filed for a Litecoin ETF in October 2024. Similar filings have been made by companies such as Grayscale and CoinShares to the SEC.

Additionally, ETF experts such as Eric Balchunas and James Seyffart have been positive about the prospects of ETF approvals. They pointed out that Litecoin’s designation as a commodity by the Commodity Futures Trading Commission (CFTC) is a boost for the ETF with a 90% chance for Litecoin spot ETF approval.

If approved, the LTCC would become the first U.S. spot ETF for a cryptocurrency other than Bitcoin and Ethereum. It may pave the way for other altcoin-backed ETFs that will provide access to the digital currency market using regulated financial products.

DTCC probably handles trillions of dollars worth of securities transactions daily. It operates as a first-clearing and settlement provider of U.S. securities, covering active ETFs and pre-launch funds pending clearance.