While the SEC recently agreed to evaluate XRP, Solana, and Litecoin ETFs, a new move came from the LTC ETF front.
Accordingly, Canary’s spot Litecoin ETF was added to the DTCC’s ETF list. Nasdaq’s previous 19b-4 filing for the Canary Litecoin ETF was published in the Federal Register on Feb. 4 and is currently under SEC review.
In DTCC, Canary Litecoin ETF was given the code LTCC.
The DTCC listing is generally seen as a positive signal for an ETF considering launching, with analysts noting that approval for a Litecoin ETF would make Litecoin the first cryptocurrency to launch an ETF after Bitcoin and Ethereum.
The Depository Trust & Clearing Corporation (DTCC) plays a very important role in the American ETF market. When an ETF is added to the DTCC list, it means that an intermediary bank has requested a DTCC designation for that ETF fund and DTCC may do so at an unspecified future date following SEC approval.
However, analysts noted that listing an ETF on the DTCC is part of the preparation process and requires final approval from the SEC before the ETF can be launched, meaning listing is not a measure of success for any pending regulatory or other approval processes.
“This file includes active ETFs that may be traded on DTCC, as well as ETFs that are not yet active ('pre-launch'). Such securities do not become active until they receive all necessary regulatory and other approvals.”
Analysts also noted that the Litecoin price rose in anticipation of the potential LTC ETF launch.
*This is not investment advice.
