DTCC Officially Announces Litecoin - Is a Spot ETF Coming Soon?
TradingKey – The DTCC website has listed the Litecoin spot ETF from cryptocurrency investment firm Canary, boosting LTC prices and triggering a rebound. Will it be able to break through the strong resistance level of $140?
On Friday, February 21, the DTCC website showed that Canary's Litecoin spot ETF is listed under the ticker symbol LTCC. Following this announcement, Litecoin surged over 5%, reaching a peak of $138.
Canary's Litecoin Spot ETF, Source: DTCC.
The appearance of the Litecoin spot ETF on the DTCC website is part of the "standard process" for new ETFs, but it does not yet indicate regulatory approval. According to data from Polymarket, the probability of the Litecoin ETF being approved this year stands at 85%. Bloomberg's senior ETF analyst Eric Balchunas believes the approval probability could be as high as 90%.
Since February, Litecoin's price has continued to strengthen, rebounding from around $90 to the current $133, marking a total increase of 47%. Market sentiment remains bullish; however, Litecoin faces strong resistance at the $140 level and is awaiting clearer regulatory approval news to catalyze further movement.
Litecoin Price Trend Chart, Source: TradingView.
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