NewsBTC
13 January 2025
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Litecoin Price Falls 22% as Odds for LTC ETF Approval Drop to 24%

The US SEC's approval of 11 spot ETF applications in January 2024 positively impacted Bitcoin, leading to increased institutional interest. However, Litecoin (LTC) is currently down 22% at $94.89 over the past month, following a similar trend among altcoins.

  • Declining odds for spot LTC ETF approval are contributing to Litecoin's price drop, with current approval chances at 24% as of January 13th, down from 75% in December.
  • Bloomberg analyst Eric Balchunas predicts that the SEC will approve these ETFs since Litecoin is a Bitcoin fork, potentially allowing easier approval.
  • Balchunas also suggests other cryptocurrencies like HBAR may see ETF approval soon, while XRP faces challenges due to an ongoing lawsuit regarding its securities status.
  • Canary Capital has filed for Litecoin’s ETF, and Grayscale may follow if it converts its Litecoin Trust, which holds over $215 million in assets.
  • Concerns remain about institutional interest in Litecoin ETFs, as even Bitcoin and Ether ETFs show weak performance relative to their market caps.