Canary Capital’s spot Litecoin ETF has recently appeared on the Depository Trust and Clearing Corporation (DTCC) system under the ticker LTCC. While this listing does not mean approval from the US Securities and Exchange Commission (SEC), it ensures the fund is structurally prepared for trading upon regulatory clearance.
Canary Capital initially filed for its Litecoin ETF on October 14, 2024, competing with other asset managers like Grayscale and CoinShares. However, Canary’s application is expected to be the first in line for an SEC decision. The firm filed an amended S-1 for its filing in January 2025.
When Will Litecoin ETF Launch?
Notably, Litecoin has a decent regulatory standing, with the Commodity Futures Trading Commission (CFTC) already classifying the cryptocurrency as a commodity. This simplifies the approval process compared to assets like XRP, which remain stuck in legal battle with the SEC.
Bloomberg ETF analysts Eric Balchunas and James Seyffart shared the DTCC listing on X, maintaining their previous prediction of a 90% probability of a Litecoin ETF launch before 2025 ends.
Meanwhile, Grayscale is also in the race, seeking to convert its existing Grayscale Litecoin Trust (LTCN) into a spot ETF, mirroring its Bitcoin ETF conversion strategy.
LTC Price Surges
The market has responded positively to the development, with Litecoin currently trading at around $133, a 2% gain in the past day. Notably, the token has rallied over 100% since the initial ETF filing, according to CoinMarketCap data.
On the daily LTC price chart, the Relative Strength Index (RSI) sits around 60, hovering in bullish territory but not yet overbought. This suggests that Litecoin has sufficient room for upward movement before hitting extreme levels of buying pressure.
Meanwhile, Bollinger Bands indicate increased volatility, with the price recently touching the upper band at $141. This generally means a potential pullback or consolidation, unless momentum continues pushing the price beyond resistance levels. The middle Bollinger Band, aligned with the 20-day Simple Moving Average (SMA) at $118, acts as an immediate support level.
Popular analyst Crypto TA King recently noted a rising wedge formation on Litecoin’s price chart, advising traders to closely watch the upper trendline resistance. A breakout above this level could trigger further bullish momentum, while a rejection may result in a short-term pullback.
Key resistance lies at $140, a level Litecoin has tested multiple times but struggled to sustain above. A breakout past this mark could send the price toward $155-$160. The token has major support at $125.
🐦🦅 Canary Capital’s Litecoin ETF Soars: LTC Price Rally Ahead? 📈
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2025-02-21 12:38