How High Will LTC Surge If Litecoin ETF Is Approved?

Jan 16, 2025

Exchange-traded funds (ETF) took the halfway signifier successful 2024. While Bitcoin (BTC) was seen shining successful this arena, the assemblage is looking guardant to witnessing much cryptocurrencies articulation these ranks. Amidst this, salient analysts highlighted however Litecoin (LTC) could beryllium the adjacent 1 to beryllium approved. Following this, the altcoin saw a large spike. This further led to the assemblage speculating a imaginable emergence aft the approval.

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Diving Into A Recent Filing

Source: Coins.ph

Litecoin whitethorn beryllium the adjacent integer plus successful the US to person the crypto ETF greenish awesome aft Bitcoin and Ether successful 2024, according to Canary Capital’s recently submitted updated S-1 signifier for its Canary Litecoin ETF. Following this, Bloomberg Senior ETF Analyst Eric Balchunas confirmed that the likelihood of an LTC ETF being approved were high.

We had heard chatter that the Litecoin S-1 had gotten comments backmost from SEC. This looks to corroborate that which bodes good for our prediction that Litecoin is astir apt to beryllium the adjacent coin approved. All that said, caller SEC seat has yet to commencement and that’s a immense variable. https://t.co/cKFswPwcr0

— Eric Balchunas (@EricBalchunas) January 15, 2025

To statesman the imaginable acceptance oregon denial process of the Litecoin ETF, Canary’s S-1 indispensable beryllium followed with a 19b-4 filing, according to Bloomberg ETF expert James Seffart.

Litecoin’s Double Digit Spike

During the clip of writing, Litecoin was trading astatine $119.45 aft surging by a staggering 17.34%. With a spike of this magnitude, LTC became a apical performer, leaving the remainder of the marketplace behind.

Amidst this, Litecoin’s trading measurement skyrocketed arsenic well. The altcoin saw a 302% spike successful regular volume. This highlighted the accrued buying enactment successful the LTC market.

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Price Prediction

According to information from CoinCodex, it is projected that Litecoin volition commercialized successful a scope of $83.05 to $250.21 successful 2025, resulting successful an mean annualized terms of $129.55. Compared to the contiguous rates, this whitethorn output a imaginable instrumentality connected concern of 109.66%. While this is so a notable spike from its existent terms level, it is astatine a region from its all-time high.

LTC deed an all-time precocious of $412 backmost successful 2021. The assemblage is hoping to witnesser the emergence of altcoin with the support of a Litecoin ETF.