Litecoin (LTC) has surged to its highest level in four weeks, touching $129.45 before climbing further to $137.34โa remarkable 21.5% gain in just one day, according to CoinGecko data. This significant price movement comes as optimism builds around the possibility of a U.S.-approved spot exchange-traded fund (ETF) for Litecoin, with the Trump administration expected to take a more favorable stance toward crypto regulation.
๐๐ก๐๐ฅ๐ ๐๐๐๐ฎ๐ฆ๐ฎ๐ฅ๐๐ญ๐ข๐จ๐ง ๐๐ง๐ ๐๐๐ ๐๐๐ฏ๐๐ฅ๐จ๐ฉ๐ฆ๐๐ง๐ญ๐ฌ ๐๐ซ๐ข๐ฏ๐ ๐ญ๐ก๐ ๐๐๐ฅ๐ฅ๐ฒ๐ฅ๐ฅ๐ฅ
Blockchain analytics platform Santiment reports that Litecoin whales and sharks have been on a buying spree, acquiring approximately 250,000 LTC, valued at nearly $29 million, since January 9. Adding to the bullish sentiment, Canary Capital recently updated its S-1 registration form with the U.S. Securities and Exchange Commission (SEC) on January 15โa critical step toward bringing Litecoin ETFs to the U.S. market.
If approved, Litecoin would join Bitcoin (BTC) and Ethereum (ETH) as one of the few cryptocurrencies to have U.S.-listed spot ETFs. Bloomberg ETF analysts Eric Balchunas and James Seyffart expressed confidence in the ETFโs chances, citing reports that the SEC has already provided feedback on the filing. Balchunas noted, โThis is a strong indication that Litecoin is on track to be the next major crypto to secure a spot ETF.โ
๐๐๐ ๐ฎ๐ฅ๐๐ญ๐จ๐ซ๐ฒ ๐๐ง๐ฏ๐ข๐ซ๐จ๐ง๐ฆ๐๐ง๐ญ ๐๐ก๐ข๐๐ญ๐ฌ ๐ข๐ง ๐๐ข๐ญ๐๐๐จ๐ข๐งโ๐ฌ ๐ ๐๐ฏ๐จ๐ซ๐๐๐
Canary Capital first filed for a Litecoin ETF in October 2024, and its recent amendments appear to have satisfied regulatory requirements. Moreover, Nasdaqโs filing of the 19b-4 form on January 15 has officially started the SECโs review process, with Coinbase Custody Trust set to manage the fundโs Litecoin holdings.
Adding to the optimism is the anticipated leadership change at the SEC, where Paul Atkins is expected to replace Gary Gensler as chairman. Atkins is widely seen as crypto-friendly, and his appointment could create a more favorable regulatory landscape for crypto ETFs. Bloombergโs Balchunas remarked that โLitecoin now meets all the conditions for approval,โ suggesting the application is unlikely to face withdrawal.
๐๐จ๐จ๐ฆ ๐๐จ๐ซ ๐๐ซ๐จ๐ฐ๐ญ๐ก ๐๐๐ฌ๐ฉ๐ข๐ญ๐ ๐๐๐๐๐ง๐ญ ๐๐๐ข๐ง๐ฌ๐จ๐จ๐จ
Despite Litecoinโs recent rally, its price remains 68% below its all-time high of $410.26, achieved in May 2021. Should the SEC approve the ETF, it could pave the way for significant upward momentum. With Litecoin potentially becoming the first altcoin ETF of 2025, investors are watching closely as the clock ticks on the SECโs decision.
Will this regulatory breakthrough position Litecoin as a major player in the evolving crypto market? Only time will tell.
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