EddieJayonCrypto
5 May 25
Litecoin's token (LTC) rose over 4% to $89, reaching a high not seen since March, driven by speculation that the US SEC may approve a spot Litecoin ETF proposed by Canary Capital. Litecoin is among the top performers in the top 25 cryptocurrencies by market cap. Bloomberg ETF analyst James Seyffart ...
Litecoin's price surged over 4% to $89, marking its highest level since March, fueled by optimism surrounding a potential SEC approval of a spot Litecoin ETF proposed by Canary Capital. This jump positioned Litecoin (LTC) as one of the top performers among the 25 largest cryptocurrencies by market capitalization, specifically ranking 21st overall. Investor excitement heightened after Bloomberg ETF analyst James Seyffart indicated that Litecoin’s ETF has a better chance of early SEC approval compared to other altcoin ETFs, although a delay remains possible. Unlike other crypto filings for ETFs—such as those for Solana, XRP, Dogecoin, and Ethereum—that have faced SEC delays, the Litecoin ETF filed by Canary Capital has not been delayed or rejected. Canary Capital initially filed for the Litecoin ETF in October 2024, followed by Nasdaq submitting a listing application in January 2025. The SEC must make a decision by May 5, 2025. Should approval occur, investors would be able to gain direct exposure to Litecoin without needing to own the token itself, marking a significant milestone for Litecoin's accessibility in regulated markets.