Canary Capital’s spot Litecoin ETF has been listed on the Depository Trust and Clearing Corporation under the ticker LTCC, marking a key step toward its potential launch. 

The listing, which showed up on DTCC late Thursday Feb. 20, does not guarantee regulatory approval but signals that the necessary infrastructure for trading is being put in place. 

The DTCC serves as a key clearing and settlement provider for U.S. securities, listing both active ETFs and pre-launch funds awaiting approval. Ultimately, the ETF still requires approval from the U.S. Securities and Exchange Commission before it can begin trading.

Canary Capital initially filed for its Litecoin (LTC) ETF in October 2024, ahead of similar applications from Grayscale and CoinShares. If approved, it would be the first U.S. spot ETF for a cryptocurrency beyond Bitcoin (BTC) and Ethereum (ETH), potentially paving the way for additional altcoin-based ETFs.

The SEC is currently reviewing the application, following Nasdaq’s 19b-4 filing for the fund. Last month, the agency opened the proposal for public comments, and it has up to 90 days from Feb. 4 to reach a decision.

Bloomberg ETF analyst Eric Balchunas recently shared his thoughts through a post on X. Balchunas believes there is a 90% likelihood that the Litecoin spot ETF would be approved. He has previously expressed optimism about the possibility of other altcoin ETFs like Ripple (XRP) and Solana (SOL) getting approved in 2025.

Following the news, Litecoin has surged 4% in the past 24 hours, reflecting increased investor optimism about the ETF’s potential approval. 

Santiment reports that Litecoin outpaced several leading cryptocurrencies, seeing a 46% increase in its market capitalization between February 2 and February 19. During this period, it also recorded a daily transaction volume of $9.6 billion.