LTC News: Litecoin Poised for Potential US Spot ETF Approval

The US Securities and Exchange Commission (SEC) is reportedly considering the approval of spot Litecoin ETFs under its new leadership. Analysts Eric Balchunas and James Seyffart from Bloomberg Intelligence suggest that the SEC might be engaging with Litecoin ETF filings, signaling a potential shift in regulatory stance. This development could position Litecoin as the third cryptocurrency to have a US spot ETF, following Bitcoin and Ethereum.

Litecoin Positioned to Become Third US Spot Crypto ETF: Report

The US Securities and Exchange Commission (SEC) might consider approving spot Litecoin ETFs under the regulator’s new leadership. According to Eric Balchunas and James Seyffart, two ETF analysts at Bloomberg Intelligence, the regulator might be engaging with Litecoin (LTE) exchange-traded fund (ETF) filing. “Canary Funds just filed an amended S-1 for their Litecoin ETF filing,” Seyffart wrote on X. “No guarantees — but this might be indicative of SEC engagement on the filing.”

Crypto Expert: Litecoin ETF Approval for XRP & SOL ETF – What Does This Mean for the Future of Crypto?

The U.S. Securities and Exchange Commission (SEC) is currently reviewing several potential crypto ETFs. The approval of these ETFs could have a significant impact on the price of the respective cryptocurrencies, such as Litecoin, XRP, and Solana. The current SEC chairman, Gary Gensler, submitted his resignation a few months ago. On the day of Trump's inauguration, the new chairman, Paul Atkins, will take his place. Atkins has a more crypto-friendly stance, which has led to Optimism about the approval of various crypto ETFs. However, for some cryptocurrencies, an ETF is closer than for others. According to Eric Balchunas, a senior ETF analyst at Bloomberg, Litecoin is in a favorable position for ETF approval.

Why These Altcoins Are Trending Today — January 17

BeInCrypto has identified and analyzed three altcoins that have been trending and garnered attention in the past 24 hours. Litecoin (LTC) stood out among trending altcoins today due to a major milestone. The Nasdaq officially filed with the SEC to list Canary Capital’s spot Litecoin ETF, a development that drew significant attention to the legacy cryptocurrency. Following this news, Litecoin’s price surged by 19%, reaching $139 at the time of writing. This rally allowed LTC to breach the critical $136 barrier. The next target for Litecoin is flipping $147 into a support level, potentially paving the way for a rise to $150 and beyond. However, profit-taking by investors could trigger a decline. If Litecoin loses its newfound momentum, it may face a pullback.