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Significant progress towards the launch of the first Litecoin ETF in the United States✅

What’s the story?

Canary Capital announced the listing of its Litecoin Spot ETF on the Depository Trust & Clearing Corporation (DTCC) under the trading symbol LTCC. This listing is considered an important preparatory step towards launching the fund, as it establishes the necessary infrastructure for trading. However, the fund is still awaiting approval from the U.S. Securities and Exchange Commission (SEC) to begin actual trading.

Why is this important?

Diversifying digital investments: If approved, this fund will be the first spot ETF for Litecoin in the United States, allowing investors exposure to digital currencies without the need to own them directly.

Potential impact on Litecoin's price: Coinciding with this news, the price of Litecoin has seen an increase, reflecting investors' optimism about the possibility of the fund's approval.

The SEC will review the fund's application, and a decision is expected in the coming months. If approved, investors will be able to trade the fund on U.S. exchanges, potentially opening the door to more digital currency investment products.

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