Canary Capital’s Litecoin ETF Listed on DTCC Platform Pending SEC Review

Canary Capital’s Litecoin ETF Listed on DTCC Platform Pending SEC Review

TLDR:

• Canary Capital’s Litecoin spot ETF (ticker: LTCC) has been listed on the DTCC website, though SEC approval is still pending
• Bloomberg analysts give the ETF a 90% probability of approval, citing Litecoin’s CFTC commodity status
• Multiple firms including Grayscale and CoinShares have filed similar Litecoin ETF applications following Canary’s October 2024 filing
• Polymarket indicates an 85% chance of ETF approval, with some polls suggesting 52% probability by July 2025
• Litecoin’s price has increased over 100% since the first ETF filing, currently trading around $130

Canary Capital has reached a key milestone in its pursuit of launching the first spot Litecoin ETF, with the fund now listed on the Depository Trust & Clearing Corporation (DTCC) website under the ticker LTCC.

The listing represents an essential step in establishing the trading infrastructure needed for the ETF’s potential launch, though final approval from the Securities and Exchange Commission (SEC) remains pending.

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The DTCC listing includes a “Create/Redeem” designation marked as “Y,” which is part of the standard preparation process for new ETF launches. This technical step allows for the creation and redemption of ETF shares, a fundamental mechanism for ETF trading.

The DTCC, which serves as the primary clearing and custody service provider for U.S. securities transactions, has clarified the nature of such listings. “This file includes both active ETFs that may be processed at DTCC and ETFs that are not yet active (‘pre launch’) and, therefore, are not able to be processed at DTCC, unless and until such securities have received all necessary regulatory and other approvals,” the organization stated.

Canary Capital submitted its spot Litecoin ETF application to the SEC in October 2024, becoming the first firm to pursue this type of investment product. The filing sparked interest from other major asset managers, with Grayscale and CoinShares subsequently submitting their own Litecoin ETF applications.

Bloomberg ETF analysts Eric Balchunas and James Seyffart have expressed optimism about the approval prospects for Litecoin-based funds. The analysts maintain a 90% probability for Litecoin spot ETF approval, pointing to Litecoin’s established status as a commodity recognized by the Commodity Futures Trading Commission (CFTC).

Market Reaction

Market sentiment appears to align with the analysts’ positive outlook. Prediction platform Polymarket currently shows an 85% chance of ETF approval. Additional polling data suggests a 52% probability of approval by July 3rd, 2025, indicating market participants’ measured optimism about the timeline.

The cryptocurrency market has responded favorably to the developments surrounding potential Litecoin ETF approval. Since the submission of the first Litecoin ETF filing, the digital asset’s price has increased by more than 100%. Current market data shows Litecoin trading at approximately $130, with recent hourly gains of 2%.

The ETF approval process involves multiple stages of regulatory review and technical preparation. The DTCC listing represents one of several necessary steps in bringing a new ETF to market. The organization’s role in clearing and settling securities transactions makes its infrastructure essential for any new ETF launch.

Investment professionals are watching the approval process closely, as a successful Litecoin ETF launch could create new opportunities for institutional and retail investors to gain exposure to the digital asset through traditional investment channels.

The Canary Capital application is expected to be the first to receive an SEC decision among the current batch of Litecoin ETF filings. This timing could position the firm to potentially launch the inaugural spot Litecoin ETF if approved.

Market observers note that the ETF’s structure follows established patterns from previous crypto-asset ETF applications. The “Create/Redeem” functionality listed on the DTCC platform indicates the fund’s intended operation as a standard ETF product.

Technical preparations for the potential ETF launch continue in parallel with the regulatory review process. The DTCC listing ensures that if SEC approval is granted, the necessary trading infrastructure will be in place to support the fund’s operations.

Recent cryptocurrency market activity shows increased trading volume for Litecoin, suggesting growing investor interest as the ETF approval process moves forward. Market data indicates sustained price stability during the review period.

The asset management industry continues to expand its cryptocurrency product offerings, with the Litecoin ETF applications representing the latest development in this trend. Multiple firms are positioning themselves to enter the market if regulatory approval is secured.

These preparations come as the broader digital asset market experiences evolving regulatory oversight and institutional adoption. The DTCC listing represents concrete progress in establishing the technical framework for mainstream Litecoin investment products.

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