According to The Block, the Litecoin spot exchange traded fund (ETF) applied for by digital asset investment company Canary Capital has been added to the ETF list on the website of the US Securities Depository and Clearing Corporation (DTCC). According to website data, the stock code for the Canary Litecoin ETF is LTCC.

If approved, Litecoin (LTC) will become the third currency after Bitcoin (BTC) and Ethereum (ETH) to serve as the underlying asset for US cryptocurrency spot ETFs. However, listing on DTCC is only a part of the preparation process and does not guarantee that the ETF will be issued. The fund is still awaiting regulatory approval from the US Securities and Exchange Commission (SEC).

The proposed rule change for the Canary Litecoin spot ETF was published in the Federal Register on February 4th, and the SEC needs to decide whether to approve it within 45 days (extendable to 90 days) from the date of publication. Bloomberg analyst Eric Balchunas believes that LTCC has a 90% chance of going public.

In addition to Litecoin, multiple fund issuers have also submitted applications to launch cryptocurrency spot ETFs based on XRP, Dogecoin, and Solana, many of which have been accepted by the SEC. In addition, NYSE Arca, a fully electronic exchange under the New York Stock Exchange, submitted an application on behalf of Grayscale in the middle of this month to create a Cardano spot ETF.