LTC News: Litecoin Price Surges Amid ETF Approval Speculation

Litecoin (LTC) has experienced a significant price surge, with analysts predicting a potential rally to $150. This comes amid growing speculation about the approval of a Litecoin ETF by Canary Capital, as hinted by Bloomberg ETF analyst Eric Balchunas. The cryptocurrency's transaction metrics also indicate strong whale activity, further fueling optimism in the market.

Litecoin price set for $150 rally amid comments on LTC ETF approval

Litecoin price surged above $130 on Thursday, rising over 37.5% this week. Bloomberg ETF analyst Eric Balchunas has hinted Canary Capital’s LTC ETF application could be approved next. Average LTC transaction size hit a 20-day peak of $44,300 on Wednesday, signaling active whale accumulation.

Nasdaq Files Application to List Canary Capital’s Litecoin ETF

Nasdaq has filed an application to list Canary Capital’s Litecoin ETF, marking a significant step towards the potential approval of the first altcoin ETF of 2025. Canary Capital recently amended its S-1 registration form with the SEC, indicating progress towards approval. ETF analysts Nate Geraci and Eric Balchunas have expressed Optimism about the ETF's approval, citing the SEC's previous comments on the S-1 form and Litecoin's classification as a commodity. The filing of a 19b-4 form by Nasdaq further supports the likelihood of the ETF's launch.

Spot Crypto ETFs: Litecoin Likely Next In Line For SEC Nod

Rumors of the possible approval of a Litecoin ETF have caused the LTC price to jump by 18% over 24 hours to $118. Litecoin, launched as an alternative to Bitcoin in 2011, has garnered significant interest among analysts and investors. Canary Capital has taken a significant step forward by filing an amendment to its S-1 registration form with the US Securities and Exchange Commission (SEC), indicating ongoing discussions with the regulatory body. This development has spurred optimism among market watchers and crypto enthusiasts, as the revised filing suggests that the SEC has responded to Canary’s application. Analysts are commenting on the prospects of Litecoin ETF approval, with many viewing the filing as a positive indication.