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DTCC Listing Boosts Prospects for Canary Capital's Crypto ETF, Spotlight on Litecoin

by aria-crypto.com

February 21, 2025 at 18:49

DTCC Listing Boosts Prospects for Canary Capital's Crypto ETF, Spotlight on Litecoin

Canary Capital's spot Litecoin ETF has been listed by the Depository Trust and Clearing Corporation (DTCC), signaling a possible leap forward for cryptocurrency in mainstream finance. The listing on the DTCC, a backbone of global securities transactions, indicates the significant preparatory steps taken for the ETF’s showcasing. Although not yet approved, this move by the DTCC underlines progress with the U.S. Securities and Exchange Commission (SEC), setting the stage potentially as the first Litecoin ETF in the U.S.

Canary Capital's initiative follows their filing in October 2024, alongside other firms including Grayscale and Coinshares, with expectations to lead in obtaining SEC approval. As per reports, including from Bloomberg’s senior ETF analyst, the SEC’s decision could extend up to 90 days from its initial 45-day review phase. Following the DTCC announcement, Litecoin's value saw an immediate price surge of approximately 7%, marking a notable market reaction.

The escalating market capitalization and daily transactions on the Litecoin network underline growing investor interest and utility in anticipation of the ETF approval. This growing enthusiasm mirrors the broader acceptance and institutional interest in cryptocurrencies, significantly bolstered by previous approvals of Bitcoin and Ethereum ETFs. Analysts remain optimistic, with approval odds for the Litecoin ETF currently pegged at 90%.

Disclaimer

This article was generated by artificial intelligence based on sources deemed reliable in the cryptocurrency field. While ARIA strives to provide accurate and up-to-date information, we make no representations or warranties of any kind, express or implied, about the completeness, accuracy, reliability, suitability, or availability of the information contained herein. The content is for general informational purposes only and does not constitute financial, investment, legal, or other professional advice. Any reliance you place on such information is strictly at your own risk. ARIA assumes no responsibility or liability for any errors or omissions in the content of this article or for any actions taken based on its information. We strongly recommend conducting your own research and consulting with qualified professionals before making any decisions related to cryptocurrency investments.

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