As per ETF analyst Eric Balchunas’ perspective, it’s anticipated that Litecoin, often referred to as Bitcoin‘s “silver,” could soon secure a place for its Spot ETF in the United States.
Stefen McClurg, a co-founder of Valkyrie Funds, has made changes to the initial public offering (S-1) filing for the exchange-traded fund (ETF) that his new company, Canary Capital Group, is launching.
This could signal that the SEC may be moving towards endorsing this product; nevertheless, it’s important to note that nothing is set in stone at the moment.
It was mentioned that the Litecoin S-1 had received feedback from the SEC, and this seems to support that claim. This suggests that our forecast, predicting Litecoin as the probable next coin to gain approval, may indeed be accurate,” stated Balchunas.
The LTC price is up by more than 17% over the past 24 hours, according to CoinGecko data.
Currently, Polymarket’s investors predict a 54% likelihood that a Litecoin ETF will be accepted in 2025. Additionally, there is a 39% probability that the Securities and Exchange Commission (SEC) will approve such a product before July 31st.
It has been noted that there are upcoming ETF applications for cryptocurrencies like Solana (SOL) and XRP. Previously, Balchunas expressed doubt about the likelihood of these particular products being approved before Litecoin, mainly due to regulatory concerns.
Currently, numerous Litecoin exchange-traded products (ETPs) are available from companies like CoinShares and Bitwise in Europe. If a Litecoin Exchange Traded Fund (ETF) gets approved, it would be a significant milestone for one of the earliest alternative cryptocurrencies. According to Balchunas, since Litecoin is a spin-off of Bitcoin, this could enhance its chances of being accepted.
To date, the Securities and Exchange Commission (SEC) has given the green light to exchange-traded funds (ETFs) that follow Bitcoin and Ethereum. It is anticipated that a pro-cryptocurrency SEC administration will likely approve additional altcoin ETFs in the near future.
As an analyst, I believe I could point out Hedera (HBAR) as a potential contender for inclusion in Exchange-Traded Funds (ETFs), given that it has not been classified as a security by the Securities and Exchange Commission (SEC). This status could make it more appealing to ETF providers, increasing its chances of being considered.
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2025-01-16 17:39