• Canary Capital has announced the listing of its Litecoin Spot ETF on the Depository and Clearing Corporation (DTCC) under the trading symbol LTCC. This listing is an important preparatory step towards launching the fund, as it creates the necessary infrastructure for trading. However, the fund is still awaiting approval from the US Securities and Exchange Commission (SEC) to begin actual trading.
• Why is this important..?
1 - Diversification of digital investments: If approved, this fund will be the first immediate ETF for Litecoin in the United States, allowing investors to gain exposure to digital currencies without having to own them directly.
2 - Possible impact on the price of Litecoin: In conjunction with this news, the Litecoin currency witnessed an increase in its value, reflecting investors’ optimism about the possibility of approving the fund.
• The SEC will review the fund’s application and is expected to issue its decision in the coming months. If approved, investors will be able to trade the fund on US stock exchanges, which may open the door to more investment products in digital currencies… |
• If you have any questions, feel free to leave a comment. I am always happy to help… |
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