Bloomberg Analyst Predicts Litecoin ETF Approval by SEC Soon
Bloomberg's Senior ETF Analyst Eric Balchunas indicated that the next cryptocurrency ETF likely to receive approval from the SEC will be a spot Litecoin ETF. This follows the anticipated approvals of spot Bitcoin and Ethereum ETFs in 2024. Canary Capital has recently filed an amended S-1 for their Litecoin ETF, suggesting ongoing discussions with the SEC.
- Balchunas mentioned that feedback had been received on the Litecoin S-1, which supports predictions for its approval.
- A crucial 19b-4 filing is still pending, which must occur for the SEC's approval process to initiate.
Crypto ETFs in 2025
Market participants are awaiting decisions on several ETF applications due by January 25, including four spot Solana ETFs submitted by VanEck, 21Shares, Canary, and Bitwise. Future spot XRP and ADA ETFs are also being discussed. The new SEC Chair, Paul Atkins, will assume office soon amid potential changes in regulatory attitudes towards crypto under the upcoming administration.
Litecoin Price Analysis
Litecoin has increased by 17.48% in the past 24 hours, trading at $120.15 with a market cap of $9.06 billion. Trading volume surged by 312.78% to $1.72 billion. The Relative Strength Index indicates bullish control, and a MACD bullish divergence suggests possible upward price movement, with expectations to break above $135.
Source: TradingView