What\u2019s Ahead For Spot Litecoin ETFs<\/strong><\/h3>\nCanary Capital was the only company to file an application for Litecoin\u2019s ETF. Analysts also expect Grayscale to follow suit if it decides to convert its Litecoin Trust, which boasts over $215 million in assets.<\/p>\n
Some experts say that the spot ETFs for Litecoin may have an uncertain future even if it gains SEC approval. Some say that it\u2019s questionable whether institutional investors will pick these investments. Even Bitcoin and Ether\u2019s spot ETF performances are relatively weak. For example, Bitcoin funds are backed by $107 billion in assets, representing just 5.7% of the total coin\u2019s market cap.<\/p>\n
Ethereum, on the other hand, boasts $11.6 billion, just 2.96% of the total asset\u2019s market cap. Since Litecoin is a smaller cryptocurrency project, many analysts don\u2019t expect much from the spot LTC ETFs.<\/p>\n
Featured image from Pexels, chart from TradingView<\/em><\/p>\n","protected":false},"excerpt":{"rendered":"When the US Securities and Exchange Commission (SEC) approved the 11 initial applications for spot ETFs last January 2024, it signaled a favorable environment for Bitcoin. The top digital asset\u2019s price surged thanks to increasing institutional attention. So, it isn\u2019t surprising that other top crypto projects follow suit, with Litecoin (LTC), a proof-of-work coin, on the deciding table. Related Reading: $7,000 Ethereum In Sight? Expert Breaks Down The Potential Path However, Litecoin is having a rough start to the year. It\u2019s currently trading at $94.89, down 22% in the last 30 days. Litecoin\u2019s price performance this week aligns with other altcoins, which surrendered some of their gains last year. Also, crypto analysts attribute Litecoin\u2019s slide to the diminishing odds that spot LTC ETFs will be approved in 2025. According to Polymarket\u2019s tracking, the odds of approving the spot LTC ETFs this year dipped to 24% as of January 13th. Odds Of Spot ETFs For Litecoin Continue To Drop For months, the crypto industry and betting markets have been projecting the odds of finally having these spot Litecoin ETFs. On December 19th, the Polymarket odds put the chances at 75% before starting to dip as the year closed. The odds were close to 50% at the start of the year, but this soon began to taper, and it\u2019s now at 24%. However, some crypto analysts are optimistic that these ETFs will be approved soon. Eric Balchunas, a Bloomberg analyst, shared his optimism in a post. He explained that the SEC would approve these funds since they are a fork of Bitcoin. A Wave Of Crypto ETFs Soon? According to Bloomberg\u2019s Balchunas, the market is ready to welcome the approval of new spot ETFs for different coins. In his Twitter\/X post shared on December 18th, he said that the Bitcoin and Ether ETF combo may be approved, and there\u2019s a probability that Litecoin\u2019s ETFs may be next. He argued that since Litecoin is Bitcoin\u2019s fork, it will be easier for proponents to gain approval. In addition to Litecoin, Balchunas also predicted that HBAR may be next since it\u2019s not identified as a security, followed by XRP\/Solana. However, XRP has the lowest odds of being approved since it has a pending lawsuit over its securities labelling. Related Reading: Bitcoin To $350,000? Top Crypto Influencer Makes Bold Prediction What\u2019s Ahead For Spot Litecoin ETFs Canary Capital was the only company to file an application for Litecoin\u2019s ETF. Analysts also expect Grayscale to follow suit if it decides to convert its Litecoin Trust, which boasts over $215 million in assets. Some experts say that the spot ETFs for Litecoin may have an uncertain future even if it gains SEC approval. Some say that it\u2019s questionable whether institutional investors will pick these investments. Even Bitcoin and Ether\u2019s spot ETF performances are relatively weak. For example, Bitcoin funds are backed by $107 billion in assets, representing just 5.7% of the total coin\u2019s market cap. Ethereum, on the other hand, boasts $11.6 billion, just 2.96% of the total asset\u2019s market cap. Since Litecoin is a smaller cryptocurrency project, many analysts don\u2019t expect much from the spot LTC ETFs. Featured image from Pexels, chart from TradingView<\/p>\n","protected":false},"author":557,"featured_media":674707,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[85876],"tags":[134,6664,10,2828],"class_list":["post-674665","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-altcoin","tag-altcoin","tag-crypto","tag-litecoin","tag-ltc"],"acf":[],"yoast_head":"\n
Litecoin Price Falters Amid Doubts Over LTC ETF Approval<\/title>\n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n\t \n\t \n\t \n