Canary Capital’s Litecoin Spot ETF Listed on DTCC Website
The Canary Litecoin ETF (stock: LTCC) has been recently listed on the DTCC website, marking a critical step in its launch journey. When preparing a new ETF, the “Create/Redeem” section is marked “Y”, which is part of the standard process. However, SEC approval is still pending.
For unproven, DTCC listing is important because it sets the necessary infrastructure for trading in ETFs, deposit trusts and clearing companies (DTCCs) act as the primary clearing and custody service provider for U.S. securities transactions. However, this does not guarantee that the ETF will be started.
“This document includes active ETFs that may be processed on DTCCs and ETFs that have not been active yet (‘Pre Pred Launched’) and therefore cannot be processed on DTCC unless and until such securities have received all necessary regulatory and other approvals.” DTCC said.
Canary Capital applied to the spot Litecoin ETF in October 2024, followed by similar documents from major players such as Grayscale and Coinshares. Bloomberg ETF analysts Eric Balchunas and James Seyffart are hopeful about the approval opportunity, explaining that Litecoin’s position is the Commodity Futures Trading Commission (CFTC) recognized commodity that can enhance the status of ETFs. “We still maintain 90% of the likelihood of Litecoin Spot ETF approval,” they said.
Platforms like Polymarket have 85% chance of approval, and some polls show that by July 3, 2025, the likelihood of approval is 52%.
