Exciting news for Litecoin enthusiasts! Canary Capital’s spot Litecoin ETF has popped up on the Depository Trust and Clearing Corporation (DTCC) system under the ticker LTCC. This listing is a significant step forward, suggesting things are moving in the right direction for the fund’s potential launch.

Getting listed on the DTCC is a crucial move because it sets the stage for the ETF’s trading infrastructure. Think of it as setting up the rails for a train to run on! However, it’s important to remember that SEC approval is still needed. The DTCC is basically the behind-the-scenes powerhouse for clearing and holding assets in U.S. securities trading.

Canary Capital originally threw their hat in the ring, applying for their spot Litecoin ETF back in October 2024. Since then, we’ve seen similar applications roll in from other big players in asset management, like Grayscale and CoinShares. Keep your eyes peeled, because Canary’s application is actually expected to be the first in line to get a decision from the SEC.

Bloomberg ETF analysts Eric Balchunas and James Seyffart are feeling pretty optimistic about Litecoin-based funds. In fact, they see their prospects as brighter compared to some other crypto ETFs out there! These experts point out that this ETF seems to tick all the regulatory boxes and meets the requirements for approval. Plus, it helps that Litecoin is already officially classified as a commodity by the CFTC.

And check this out – Litecoin’s price has surged by over 100% since the first Litecoin ETF application was filed with the SEC, according to data from CoinGecko data. Right now, the digital asset is trading at around $130, and it’s even climbed another 2% just in the last hour!