Yes they are able to but I think it will be an LTE phone when Apple finally brings it to Verizon, making a CDMA iPhone would mean investing a lot of money on a standard that will soon be replaced.
I just saw the rumor on the front page. Note, it said CDMA and not LTE.
Knowing Apple, it would be more likely to be straight CDMA, even if Verizon has started to roll out LTE by then. CDMA would be fast enough for now, and it would give a reason to upgrade in another year/18 months. Like Apple releasing the original iPhone with 2G even though ATT had been supporting 3G for some time at that point. Gave a reason to upgrade to the 3G, even though there weren't many other improvements in that version (GPS). I, though, had waited due to the 2G nature of the first phone.