LTC News: Litecoin ETF Acknowledged by SEC, Potential Rally to $186

Litecoin (LTC) has seen a significant price surge following the SEC's acknowledgment of Canary Capital's Litecoin ETF filing. This development has sparked optimism among investors, potentially driving LTC's price towards $186.

Litecoin ETF Acknowledged by SEC, LTC Could Rally to $186

Litecoin (LTC) experienced a significant surge of over 15% on Thursday after the United States Securities and Exchange Commission (SEC) acknowledged Canary Capital's Litecoin exchange-traded fund (ETF) 19b-4 filing. This acknowledgment has sparked Optimism among investors, potentially driving LTC's price towards $186.

Litecoin Price Aims To Break 2-Month Barrier as ETF Proposal Gains Momentum

Litecoin (LTC) is attempting to break through a key resistance level at $133, validated by a bullish double-bottom pattern. However, market participants are divided: whales have started offloading their holdings, while retail investors remain optimistic. On-chain data shows that Litecoin addresses holding between 10,000 and 100,000 LTC have sold over 230,000 tokens worth approximately $30 million within 24 hours. This whale activity suggests a cautious approach, potentially leading to short-term price volatility. Despite growing optimism around a potential Litecoin ETF, uncertainty remains as whales typically act as trendsetters in the market.

Grayscale Files for Spot XRP ETF

Grayscale has filed for a Spot XRP ETF with the NYSE, a move that could potentially open new doors for institutional investment and broader adoption of XRP. This development has been described as great news in the cryptocurrency ecosystem, as a Spot ETF could provide easier access to XRP for investors. Earlier this month, the NYSE reportedly filed a 19b-4 form to list and trade Grayscale’s Litecoin Trust, aiming to ensure better security and clearer rules around custody.