Bloomberg Analyst: Litecoin ETF Is Possibly Next One to Be Approved
Litecoin ETF is could be the next cryptocurrency ETF to debut, predicted Eric Balchunas.
Canary Capital amended its S-1 filing for the LTC ETF filing but a 19b-4 filing hasn’t been submitted yet.
The approval/decline date for four spot Solana ETF applications is on January 25.
Bloomberg Senior ETF Analyst Eric Balchunas highlighted that the next cryptocurrency exchange-traded fund (ETF) to be approved by the United States Securities and Exchange Commission () would be the spot Litecoin (LTC) ETF. With the approval of spot Bitcoin and Ethereum ETFs in 2024, crypto market participants eagerly eye the next digital asset investment product.
The insight from Balchunas not long after Canary Capital, a leading crypto fund manager, filed an amended S-1 for their Litecoin ETF filing, as highlighted by another Bloomberg analyst, James Seyffart, in a on X (formerly Twitter). Seyffart noted that the amended filing suggests that there is some kind of back-and-forth dialogue between the SEC and Canary Capital.
“We had heard chatter that the Litecoin S-1 had gotten comments back from the SEC. This looks to confirm that which bodes well for our prediction that Litecoin is most likely to be the next coin approved. All that said, the new SEC chair has yet to start and that’s a huge variable,” Balchunas said.
However, it is important to note that a 19b-4 filing is yet to be seen from the digital asset management firm. This filing is crucial for the actual approval or denial clock to begin, stated Seyffart, while adding that “the clock only starts once a 19b-4 is filed and acknowledged by the SEC”.
Crypto ETFs in 2025
Crypto market participants are awaiting the approval of numerous ETF applications submitted by issuers in the recent period. These include the four that are approaching their approval/decline deadline. The SEC has to make its decision on the applications filed by VanEck, 21Shares, Canary, and Bitwise by January 25.
There are also talks of the debut of spot XRP and ADA exchange-traded funds in the United States. The new SEC Chair, Paul Atkins, is set to take over in four days while Donald Trump’s pro-crypto administration is also approaching Inaugural Day, which could turn out to be a blessing for the asset management companies that aim for crypto ETF launches.
Litecoin Price Analysis
Litecoin has soared a massive 17.48% in the past 24 hours and is trading at $120.15 at the time of publication with a market capitalization of $9.06 billion, as per CoinMarketCap data. Further, the digital currency’s trading volume shot up 312.78% to $1.72 billion as it outperformed many of the leading cryptocurrencies in the market.
Source: TradingView
The Relative Strength Index for Litecoin (LTC) price action reads a value of 62.07, which means that the bulls are overall in control of the digital asset’s price action, and the gradient of the line suggests that higher prices could be in the near future. On the other hand, the MACD indicator has confirmed a bullish divergence on the daily chart with the MACD line (blue) breaking above the signal line (red). A move to break above $135 can be expected from LTC.