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Is the Litecoin ETF COMING? The clue
By Gabriele Brambilla
Habemus ticker regarding Canary Capital's Litecoin ETF: are we finally on the launch pad?
LTC in a good shape
In the midst of memecoin chaos and with the market showing uncertainty, one security for now we have: Litecoin.
Indeed, the LTC native coin has been showing strength since early February, with a climb from a value of $100 to the current $135. The 30-day chart is less generous when it comes to performance, but still shows a good +16.5 percent. Sure, for many the figure may not be super exciting, but compared to those of many other coins and tokens it is definitely good. For example, here is the performance over the past 30 days of some well-known cryptos:
- Bitcoin: -6%
- Ethereum: -15%
- Solana: -30%
- Cardano: -19%
LTC is confirmed to be in a favorable moment, but what is it due to? Let’s figure it out now.
Below is the LTC/USDT TradingView real-time chart, based on Binance data .
Litecoin ETFs: here's why LTC goes up
The main impetus to LTC’s good February trend is certainly the ETF issue.
Canary Capital US is now in the process of launching its Litecoin ETF. It is now there: the product has been added to the list of the DTCC (Depository Trust and Clearing Corporation), an entity that handles settlement, custody, information and clearing for the financial markets.
Also appearing on the DTCC’s list is the ticker that the new ETF will have, namely LTCC. When this is made known, the product launch is generally close, although there is no certainty. Final approval still appears as “pending” with the U.S. SEC, which must give its response within 45 days of the proposal submitted on Feb. 4, extendable up to 90.
If approved and launched, the Litecoin spot ETF would be the third in the category after those on bitcoin and Ethereum. Further behind remain product applications on Ripple, Solana and Dogecoin.
Pay attention to the price levels!
Maximum caution about price levels, because we are in acomplicated area of resistance.
The $135 threshold has proven time and again to be a nasty opponent of bullish movements. Just recently, LTC has slammed into it on several occasions:
- In December and for several days, only to lose a lot of value on the way in the following weeks;
- In January, more or less in the middle. After breaking through resistance, it immediately fell back below, starting some complex days;
- In late January, albeit only with shadows.
The last area, marked by the “?” is where we are now: will LTC, buoyed by the good news about the ETF, be able to break through this level? Or will it once again have to retrace its steps and reorganize its attack? We will find out in the coming days.
For now, volumes are positive, but the area denotes a strong contrast between selling and buying. It will be interesting to follow its development!
