#莱特币ETF Canary Capital Group, an investment firm founded by Steven McClurg, filed the application with the SEC in October 2024, as reported by CriptoNoticias.
Its proposal seeks to offer traditional investors a way to access litecoin without having to acquire and store the asset directly.
The company has highlighted that its ETF will not use financial derivatives, which would avoid additional counterparty and credit risks. The DTCC is an entity in charge of the clearing and settlement of financial securities in the country. Although this registration does not represent regulatory approval, it is a prerequisite for the fund to be able to launch on the market in case it receives the green light from the United States Securities and Exchange Commission (SEC).
Inclusion in the DTCC is a standard procedure for funds seeking to operate in the US market. In the past, bitcoin (BTC) and ether (ETH) ETFs also went through this process before their official approval Approval expectations
Bloomberg Intelligence ETF specialist Eric Balchunas noted that LTCC's inclusion in the DTCC does not mean that the fund is approved or ready for immediate commercialization.
However, he indicated that this move shows that Canary Capital Group is preparing the ground for its launch. According to his estimates, the probability of the fund being approved is 90%. #LTC #LTC📈 $LTC
Canary Capital's spot Litecoin ETF trades on DTCC before SEC decision
The plan of Canary Capital Group Canary Capital Group, an investment firm founded by Steven McClurg, submitted the application to the SEC in October 2024, as reported by CriptoNoticias. Its proposal seeks to offer traditional investors a way to access litecoin without the need to acquire and store the asset directly. The company has highlighted that its ETF will not use financial derivatives, which would avoid additional counterparty and credit risks. The DTCC is an entity responsible for the clearing and settlement of financial securities in the country. Although this registration does not represent regulatory approval, it is a prerequisite for the fund to be launched on the market in case it receives the green light from the U.S. Securities and Exchange Commission (SEC).
Is Litecoin Ready to Shine Again?
Despite its impressive track record, Litecoin
#LTC $LTC Despite its impressive track record, Litecoin has struggled to hold its own against the overwhelming dominance of Bitcoin and Ethereum in recent years. However, that could change in 2025. With its strong foundations in decentralization and security, coupled with growing institutional adoption, Litecoin appears to be on track to regain success. A decisive break of $300, and even $400, seems possible in the medium term, which will surely please the most optimistic investors. Strong fundamentals supporting a massive rally
#LTC STRONG FUNDAMENTALS SUPPORT A RALLY FOR LITECOIN
Although market conditions are not likely to be as favorable as in 2021, 2025 could prove to be an extremely positive year for the entire crypto ecosystem. The change of administration in the White House, with a crypto-friendly team, will accelerate the institutional adoption of digital assets.
Litecoin, as one of the oldest and safest cryptocurrencies, should logically benefit from this surge in interest. The possible launch of a Litecoin ETF in the coming months represents an important catalyst that could attract significant capital flows into this coin.
Savvy investors are already positioning themselves in advance for this possibility. Open interest in Litecoin futures contracts has recently reached $900 million, a level close to its 2021 all-time high, when the price of LTC was 4 times above its current value. $LTC
Is Litecoin ready to take off to new highs? While the cryptocurrency market is going through a downturn, Litecoin (LTC) seems poised to change the trend. After struggling to surpass its previous all-time highs in 2021, the cryptocurrency could experience a meteoric rise in the coming months.
LTC price chart with the 200-day moving average indicator. (LTC/USDT) Source: TradingView Technical indicators show a clear upward trend. After a solid bounce from its support at the 200-day moving average in early February, Litecoin is gaining ground and is dangerously close to the resistance at $140. The formation of an ascending triangle suggests an upcoming breakout to the upside, with the aim of returning to the all-time highs of late 2021 at $300, and even reaching the all-time record at $413. #LTC📈 $LTC
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