The cryptocurrency market is optimistic about the possible approval of the first Litecoin (LTC) ETF in the United States. Canary Capital has listed its ETF with the Depository Trust & Clearing Corporation (DTCC) under the ticker LTCC, a major step towards its formal listing.
The U.S. Securities and Exchange Commission (SEC) still needs to approve the fund, but analysts estimate a 90% chance of approval by 2025. Interest in Litecoin has been growing, with daily transactions increasing 243% in the past five months, according to data from Santiment.
In addition, the SEC has recognized ETF applications for Litecoin and XRP from CoinShares, increasing expectations for new regulated products in the sector. If approved, the ETF could make the cryptocurrency more accessible to institutional investors and increase its liquidity in the market.
At the moment, Litecoin is trading at $134.89, with a 5% increase for the day. The community is awaiting the SEC's next steps, which could solidify LTC as a more relevant financial asset.
