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Litecoin climbs on hopes of ETF green light from SEC
By: bitcoin ethereum news|2025/05/05 18:45:01
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Litecoin’s native token, LTC, has posted notable gains amid speculation that the US Securities and Exchange Commission (SEC) may approve a spot Litecoin exchange-traded fund (ETF) proposed by Canary Capital. According to CryptoSlate’s data, the digital asset rose over 4% to reach $89, the highest level seen since March, while most other cryptocurrencies remained flat during the reporting period. This upward move places LTC among the top two performers within the 25 largest digital assets by market capitalization over the past day. Litecoin is the 21st-largest crypto by market capitalization. Market analysts suggest that the renewed attention stems from optimism surrounding a regulatory decision expected later today. Litecoin ETF gains momentum Investor interest in Litecoin surged after Bloomberg ETF analyst James Seyffart commented on the upcoming SEC deadline. He suggested that the agency may take action soon, noting that Litecoin appears to have a better chance of early approval than other altcoin-based ETF proposals. Last week, the SEC delayed multiple filings involving other crypto, such as Solana, XRP, Dogecoin, and Ethereum. However, the financial regulator has yet to issue any delay or rejection related to Canary’s Litecoin ETF application. Considering this, Seyffart noted that: “If any asset has a chance of early approval it’s Litecoin.” However, he cautioned that a delay remains the more likely outcome given the broader regulatory pattern. Canary Capital submitted its initial S-1 registration for the Litecoin ETF in October 2024. In January 2025, Nasdaq followed up with a 19b-4 filing to list the fund for trading. Notably, the SEC has already acknowledged the applications, a critical first step toward potential approval. The final deadline for the agency to make a decision is May 5. If the fund is approved, investors would gain direct exposure to Litecoin without holding the token. Source: https://cryptoslate.com/litecoin-climbs-on-hopes-of-etf-green-light-from-sec/
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