Is Litecoin About to Wear Its ETF Crown? 👑

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Well, darlings, it seems the Litecoin ETF drama has found its way back to the spotlight yet again! Canary’s exchange-traded fund for our dear LTC has been sighted fluttering onto the Depository Trust & Clearing Corporation’s (DTCC) platform. The level of excitement is practically palpable, don’t you think? Of course, this all comes a mere 13 months after the Bitcoin ETF momentous debut—but who’s counting? 😉

The DTCC Drama Unfolds 🎭

On Thursday, no less, Canary’s Litecoin ETF quite dramatically appeared on the DTCC platform with the charming ticker symbol LTCC. While this doesn’t exactly scream “approved and trading now, darlings,” it does suggest someone is busy arranging bunting for the launch party. According to our ever-optimistic friend, Bloomberg’s Eric Balchunas, the appearance “doesn’t mean it’s approved, but preparations are underway.” Such intrigue! Such suspense! One might need to fan oneself.

Balchunas, ever the oracle, also murmured about dazzling 90% odds for a spot Litecoin ETF approval this year, far eclipsing the meager hopes bestowed upon the Solana and XRP cousins. Poor dears, always the bridesmaids!

Elsewhere, Nate Geraci from the ETF Store couldn’t help but emit a small groan of déjà vu. “Here we go again,” he sighed, rather like someone hearing the refrain of a tired Broadway revival. Yet his confidence in an imminent ETF debut remains robust, claiming Litecoin’s ETF could soon grace brokerage platforms. Oh, be still my beating wallet! 🤑

Meanwhile, CoinShares, dazzling beacon of finance, has sashayed into the SEC’s inbox with a formal proposal to list the Litecoin ETF on Nasdaq. Should this triumph below the flashing lights of regulatory review, the world might soon trade Litecoin with stock-market sophistication sans hoarding it under one’s virtual mattress. Positively civilized, isn’t it? 🥂

Can Litecoin Ditch $130 for the High Society of $200?

Ah, Litecoin, the darling of altcoins! Since February fluttered onto the calendar, LTC has rather stolen the show, with its value waltzing up 46% since Feb 2, leaving its dear market cap gasping somewhere north of $10.2 billion. How très chic!

Currently, our beloved Litecoin is pirouetting around the resistance zone of $130 as though trying out a new dance floor. The rising wedge channel it’s tangoing within, per the technical enthusiasts, could either signal a breakthrough above its resistance line—or an embarrassing stumble out of the ballroom altogether. No pressure! 💃

For those daring souls willing to wager, a breakout above this glittering upper trendline could signal a champagne-popping rally to $200 and possibly beyond. Are we ready, investors? Lock and load those monocles! 🧐

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2025-02-21 13:26