Litecoin (LTC), which has surged over 13% in 24 hours and is currently priced at $129.39, is seeing renewed buzz following speculation of a possible Litecoin exchange-traded fund (ETF) being authorized in 2024 by the U.S.
According to analyst data obtained by Bloomberg, expectations have increased, which means that a spot Litecoin ETF in 2025 has better chances of getting approved than any other crypto fund. This positive outlook, shared on social media, has fueled investor optimism, sending Litecoin’s price upward.
Analysts argued that the S-1 and 19b-4 forms, key regulatory documents, have been filed and acknowledged by the U.S. Securities and Exchange Commission (SEC) in advance. Litecoin being considered a commodity rather than a security in the eyes of regulators could additionally ease the way toward approval, as a result of which few, if any, hurdles would exist.
According to new data taken from the market, Litecoin trading volume has skyrocketed with a 91.3% increase, recording $1.89 billion in only 2 hours. It also saw a 13.19% increase in market cap, reaching $9.77 billion, an indication of continued strong demand from investors.
However, the SEC has also demonstrated more slack behavior when it comes to approving crypto ETFs, meaning these developments could definitely point towards Litecoin potentially being among the first approved. If it happens, it can lead to more institutional adoption, hence further gains of LTC.
Also Read: Grayscale Proposes First-Ever Cardano ETF for NYSE Listing
