Bitget App
Trade smarter
Buy cryptoMarketsTradeFuturesEarnWeb3SquareMore
Trade
Spot
Buy and sell crypto with ease
Margin
Amplify your capital and maximize fund efficiency
Onchain
Going Onchain, without going Onchain!
Convert
Zero fees, no slippage
Explore
Launchhub
Gain the edge early and start winning
Copy
Copy elite trader with one click
Bots
Simple, fast, and reliable AI trading bot
Trade
USDT-M Futures
Futures settled in USDT
USDC-M Futures
Futures settled in USDC
Coin-M Futures
Futures settled in cryptocurrencies
Explore
Futures guide
A beginner-to-advanced journey in futures trading
Futures promotions
Generous rewards await
Overview
A variety of products to grow your assets
Simple Earn
Deposit and withdraw anytime to earn flexible returns with zero risk
On-chain Earn
Earn profits daily without risking principal
Structured Earn
Robust financial innovation to navigate market swings
VIP and Wealth Management
Premium services for smart wealth management
Loans
Flexible borrowing with high fund security
Canary Capital’s Spot Litecoin ETF Moves Closer to Reality, LTC Price Rally Ahead?

Canary Capital’s Spot Litecoin ETF Moves Closer to Reality, LTC Price Rally Ahead?

CoinspeakerCoinspeaker2025/02/20 16:00
By:By Anisha Pandey Edited by Julia Sakovich

Canary Capital’s spot Litecoin ETF has been listed on the DTCC system, setting the stage for potential trading upon SEC approval.

Key Notes

  • Canary Capital's spot Litecoin ETF is now listed on the DTCC system under ticker LTCC.
  • The listing does not confirm SEC approval but prepares the fund for trading once regulatory approval is granted.
  • Litecoin is currently trading around $133 with a 2% daily gain.

Canary Capital’s spot Litecoin ETF has recently appeared on the Depository Trust and Clearing Corporation (DTCC) system under the ticker LTCC. While this listing does not mean approval from the US Securities and Exchange Commission ( SEC ), it ensures the fund is structurally prepared for trading upon regulatory clearance.

Canary Capital initially filed for its Litecoin ETF on October 14, 2024, competing with other asset managers like Grayscale and CoinShares . However, Canary’s application is expected to be the first in line for an SEC decision. The firm filed an amended S-1 for its filing in January 2025.

When Will Litecoin ETF Launch?

Notably, Litecoin LTC $135.2 24h volatility: 5.3% Market cap: $10.17 B Vol. 24h: $1.56 B has a decent regulatory standing, with the Commodity Futures Trading Commission ( CFTC ) already classifying the cryptocurrency as a commodity. This simplifies the approval process compared to assets like XRP, which remain stuck in legal battle with the SEC.

Bloomberg ETF analysts Eric Balchunas and James Seyffart shared the DTCC listing on X, maintaining their previous prediction of a 90% probability of a Litecoin ETF launch before 2025 ends.

Meanwhile, Grayscale is also in the race, seeking to convert its existing Grayscale Litecoin Trust (LTCN) into a spot ETF, mirroring its Bitcoin ETF conversion strategy.

LTC Price Surges

The market has responded positively to the development, with Litecoin currently trading at around $133, a 2% gain in the past day. Notably, the token has rallied over 100% since the initial ETF filing, according to CoinMarketCap data.

On the daily LTC price chart, the Relative Strength Index (RSI) sits around 60, hovering in bullish territory but not yet overbought. This suggests that Litecoin has sufficient room for upward movement before hitting extreme levels of buying pressure.

Canary Capital’s Spot Litecoin ETF Moves Closer to Reality, LTC Price Rally Ahead? image 0

Meanwhile, Bollinger Bands indicate increased volatility, with the price recently touching the upper band at $141. This generally means a potential pullback or consolidation, unless momentum continues pushing the price beyond resistance levels. The middle Bollinger Band, aligned with the 20-day Simple Moving Average (SMA) at $118, acts as an immediate support level.

Popular analyst Crypto TA King recently noted a rising wedge formation on Litecoin’s price chart, advising traders to closely watch the upper trendline resistance. A breakout above this level could trigger further bullish momentum, while a rejection may result in a short-term pullback.

Key resistance lies at $140, a level Litecoin has tested multiple times but struggled to sustain above. A breakout past this mark could send the price toward $155-$160. The token has major support at $125.

next

Disclaimer: Coinspeaker is committed to providing unbiased and transparent reporting. This article aims to deliver accurate and timely information but should not be taken as financial or investment advice. Since market conditions can change rapidly, we encourage you to verify information on your own and consult with a professional before making any decisions based on this content.

0

Disclaimer: The content of this article solely reflects the author's opinion and does not represent the platform in any capacity. This article is not intended to serve as a reference for making investment decisions.

PoolX: Earn new token airdrops
Lock your assets and earn 10%+ APR
Lock now!