$LTC Canary Capital's proposed Litecoin exchange-traded fund (ETF) has been listed on the Depository Trust and Clearing Corporation (DTCC) system under the ticker symbol LTCC. Listing does not guarantee regulatory approval, but indicates that the necessary infrastructure for trading is in place.
DTCC likely handles trillions of dollars in securities transactions daily. It operates as an initial clearing and settlement provider for U.S. securities, covering active ETFs and pre-launch funds pending authorization.
A listing on the DTCC indicates that the ETF is ready to list, but requires approval from the U.S. Securities and Exchange Commission (SEC) before the ETF can begin trading.
Canary Capital filed an application for a Litecoin ETF in October 2024. Firms such as Grayscale and CoinShares have filed similar applications with the SEC.
Additionally, ETF experts such as Eric Balchunas and James Seyffart have been positive about the prospects for ETF approval. They noted that the designation of Litecoin as a commodity by the Commodity Futures Trading Commission (CFTC) is a boost for the ETF with a 90% chance of the Litecoin spot ETF being approved.
If approved, the LTCC would become the first US spot ETF for a cryptocurrency other than Bitcoin and Ethereum. It could pave the way for other altcoin-backed ETFs that will provide access to the digital currency market through regulated financial products.
