The crypto space is buzzing with anticipation as Canary Capital’s application for a spot Litecoin (LTC) ETF nears a critical milestone. The U.S. Securities and Exchange Commission (SEC) is expected to deliver its verdict this Monday, with optimism growing among investors. Bloomberg ETF analyst James Seyffart recently expressed confidence in the proposal’s success, citing favorable regulatory momentum. Notably, Canary Capital’s application has moved through the approval process more swiftly than those for XRP and Dogecoin ETFs, signaling a potentially smoother path for Litecoin.
$LTC The regulatory process for the LTC ETF began with an S-1 registration submitted to the SEC on October 15, 2024, followed by Nasdaq’s 19b-4 filing on January 16, 2025, aimed at accelerating the review. In addition to Canary’s proposal, the SEC is concurrently evaluating ETF applications from Grayscale and CoinShares, with a deadline for all three set for October 2025. Bloomberg analysts currently estimate a 90% probability that a Litecoin ETF will be approved, making it the leading contender among ongoing crypto ETF proposals.
From a technical perspective, Litecoin is currently trading around $86 during the early hours of Monday’s Asian session, holding its gains after a solid rebound in April. The asset remains well-supported above the 100- and 200-period EMAs on the 4-hour chart—an encouraging sign for bulls. If LTC manages to break past the 50-period EMA and overhead trendline resistance, the door could open for a rally towards the psychological $100 mark. However, short-term friction may emerge in the $88–$90 resistance zone, where previous supply has capped upward momentum.
For bullish traders, the key lies in maintaining momentum above dynamic support levels. Immediate support is seen at $84, formed by the 100- and 200-EMA confluence, while deeper cushions lie at $81 and $75. Given the macroeconomic backdrop—including comments from Federal Reserve Chair Jerome Powell and pressure from President Trump to reduce interest rates—market sentiment could shift swiftly. Still, Litecoin appears well-positioned to benefit from positive ETF developments and continued technical strength.
#Litecoin #LTC #LitecoinETF #CryptoETF