In a pivotal development, the Canary Capital Litecoin ETF has gone live on Nasdaq. This development has significantly sparked a ray of enthusiasm and excitement within the crypto market, as the industry is still struggling to recover from the October crash.
The timing is significant, marking a new chapter for Litecoin as the first US-based LTC ETF hits the market. Despite the current political chaos and government shutdown, the Securities and Exchange Commission’s (SEC) approval process moved forward, finally resulting in the much-awaited launch of the Litecoin ETF.
As reading begins on the Nasdaq, investors are poised to benefit from a more regulated and secure way to gain exposure to LTC, thus signalling a promising future for the token. As the market reacts to this Litecoin news, one thing is clear- this ETF debut is a game-changer for the cryptocurrency.
First Litecoin ETF Goes Live
According to the latest Litecoin news, the Canary Capital LTC ETF (LTCC) was launched on Nasdaq earlier today. The ETF, with the ticker LTCC, is a spot exchange-traded fund designed to track the LTC price, providing investors a secure way to gain exposure to the crypto.
“This is another landmark moment in what has been a pivotal year for the crypto industry. Canary is incredibly proud to have delivered on our mission to bring registered crypto investment solutions to the broader investment public,” stated Canary Capital CEO and Founder Steven McClurg. He added,
“As one of the longest-running blockchains, Litecoin has demonstrated a proven track record of security and reliability with significant enterprise-class use cases. With LTCC, we are proud to provide investors an SEC-registered vehicle to gain exposure to this important digital asset.”
Why Litecoin ETF? McClurg Explains
Litecoin is often called “digital silver” to Bitcoin’s “digital gold.” The cryptocurrency is celebrated and widely adopted due to its speed, efficiency and reliability. With an impressive 14-year track record of 100% uptime, the crypto has gained traction among payment processors and financial institutions. The Canary Capital Litecoin ETF (LTCC) offers a streamlined way for investors to tap into Litecoin’s potential, leveraging the expertise of top-tier institutional partners. McClurg added,
“Given the continued demand for spot crypto products and growing education around the potential of crypto and blockchain technologies, we believe there will be strong demand from retail and institutional investors alike seeking access to Litecoin exposure. Our team understands the nuances of crypto-focused products and looks forward to supporting investors, educating the industry, and developing innovative financial products.”
LTC Price Rebounds
Following its recent decline after the October 11 crypto market crash, the LTC price has rebounded into the green zone. As of press time, the cryptocurrency is trading at $99.84, up by 1.11% in a day. Over the past week, the token has seen a more notable uptick of 5.6% despite a 4.5% monthly decline.
This uptrend has caught the attention of the traders who started showing growing interest in Litecoin. The community engagement and traders’ activity saw a significant surge, with the 24-hour volume hitting $1.4 billion, up 120%.
Will Litecoin Price Sustain Its Momentum?
As per expert predictions, Litecoin is poised to continue its bullish momentum. In a recent X post, analyst CryptoBull_360, the cryptocurrency is “showing strength,” indicating that LTC is expected to see a potential uptrend. As per the analyst, a weekly close or breakout above $140 could push the price up to $300 and beyond.
