- Canary’s Litecoin ETF on DTCC signals progress, raising approval hopes for institutional investors.
- Nasdaq has received a Litecoin ETF filing from CoinShares for SEC review.
- Litecoin rallied to a 46% increase during February as holders tested resistance at the $130 price level.
Litecoin ETF discussions are gaining momentum after Canary’s Litecoin ETF (LTCC) appeared on the Depository Trust & Clearing Corporation (DTCC) platform. This listing suggests that the issuer is preparing for possible approval. Bloomberg analyst Eric Balchunas clarified that this does not confirm approval but signals progress.
Market analysts remain optimistic, with Balchunas giving a 90% approval chance for 2025. This estimate surpasses the approval odds of Solana and XRP ETFs. Nate Geraci, President of the ETF Store, compared this listing to Bitcoin ETF developments. He expects the Litecoin ETF to become available for brokerage trading soon.
CoinShares Pushes for a Litecoin ETF on Nasdaq
Financial services firm CoinShares recently filed a Nadq-listed Litecoin ETF with the SEC for review. The U.S. Securities and Exchange Commission (SEC) is examining this proposal. Stock market traders will gain access to Litecoin through a regulated platform after the approval process.
The approval of Litecoin ETFs continues after the launch of spot Bitcoin ETFs in early 2024. Institutional investors began using Bitcoin ETFs to drive prices higher and establish crypto investments as legitimate financial choices. The approval of Litecoin would likely draw substantial attention from institutional investors creating enhanced trust within the market.
Litecoin Price Action Suggests Bullish Momentum
Litecoin has shown strong price performance since early February. Between February 2 and February 19, LTC surged by 46%, increasing its market cap from $7 billion to over $10.2 billion.
Currently, Litecoin is testing a key resistance level around $130. Technical indicators show that LTC is trading within a rising wedge pattern. Traders are closely watching this level, as a breakout could push the price toward $200.
Litecoin ETFs and Price Growth
The potential for a Litecoin ETF’s upcoming approval has energized bullish market sentiment among investors. Institutional investors entering the market will create strong price growth support. The success of Bitcoin ETFs showcased how institutional investment creates enduring value which points to a promising future for Litecoin.
Investors face ongoing regulatory obstacles. SEC review processes might extend beyond expected timelines and potentially place limitations which may diminish market interest. The future of Litecoin ETFs remains uncertain but market participants maintain close watch on potential advancements.
