Litecoin ETF developments are as soon as once more selecting up tempo with the Canary exchange-traded fund (ETF) for LTC showing on the Depository Trust & Clearing Corporation (DTCC). Thus, 13 months following the Bitcoin ETF approval, there’s a transparent pleasure for the LTC merchandise as properly. With the LTC worth exhibiting power lately, analysts are hopeful of a possible rally to $200 and past.
Litecoin ETF Appears on DTCC, Approval Soon?
On Thursday, Canary’s Litecoin ETF appeared on the DTCC platform, below the ticker of LTCC, elevating additional hopes of product approval very quickly. Speaking on the event, senior ETF analyst at Bloomberg, Eric Balchunas stated that it “doesn’t mean it’s approved or ready to start trading, but it does show the issuer is making preparations for when it is”.
Last week, analyst Balchunas stated that there are 90% approval odds for spot Litecoin ETFs this 12 months, larger than that of Solana ETF and XRP ETF.
Nate Geraci, President of the ETF Store commented on the Litecoin ETF being “listed” on the Depository Trust & Clearing Corporation (DTCC), drawing parallels to earlier discussions surrounding spot Bitcoin ETFs. “Here we go again,” Geraci mentioned, acknowledging the similarity to previous spot BTC ETF occasions. He additionally expressed confidence {that a} Litecoin ETF is very more likely to debut quickly including that it may very well be accessible to brokerage within the close to future.
CoinShares, a monetary agency, has formally filed to checklist a Litecoin ETF on Nasdaq, with the SEC now reviewing the proposal. If permitted, the ETF would allow buyers to commerce Litecoin in a regulated inventory market surroundings with out the necessity to instantly maintain the cryptocurrency.
Will the LTC Price Rally Continue?
Since the beginning of February, LTC has been among the many best-performing altcoins available in the market. In the interval between February 2 to February 19, 2025, the LTC worth surged 46% with its market cap hovering from $7 billion to now over $10.2 billion.
Currently, Litecoin is flirting round the important thing resistance zone of $130. Litecoin’s (LTC) worth motion is presently buying and selling inside a rising wedge channel, in line with technical evaluation shared by market observers.
Traders are suggested to watch the higher trendline intently, because it might function a important resistance stage. A breakout above the higher trendline might sign potential bullish momentum to $200 and past.
Bhushan Akolkar
Bhushan is a FinTech fanatic with a eager understanding of economic markets. His curiosity in economics and finance has led him to deal with rising Blockchain know-how and cryptocurrency markets. He is dedicated to steady studying and stays motivated by sharing the information he acquires. In his free time, Bhushan enjoys studying thriller fiction novels and sometimes explores his culinary expertise.
Disclaimer: The introduced content material could embody the private opinion of the creator and is topic to market situation. Do your market analysis earlier than investing in cryptocurrencies. The creator or the publication doesn’t maintain any duty to your private monetary loss.
