The US Securities and Exchange Commission (SEC) is scheduled to decide on Canary Litecoin ETF, as Litecoin (LTC) shows bullish momentum, with a sunny trading volume that jumps 31% to over $ 338 million.
While the SEC has released an early delay for many cries-related filings related to exchange (ETF), especially those involving Ethereum and other digital properties, the Litecoin ETF has since escaped early commentary.
Bloomberg ETF analyst James Seyffart has been highlight Post on x .
She is added That the only commission owner is likely to approve it in advance is a litecoin ETF. He noted that a delay is more likely, but it is something to watch.
Litecoin (LTC), often called “Silver to Bitcoin's Gold,” has long been one of the most established and widely exchanged cryptocurrencies.
Longevity and relatively stable reputation compared to other altcoins make it more “soluble” candidates for an ETF in the eyes of regulators, especially as the SEC continues to roam the broader crypto market administration.
The SEC delayed its decision on the ETF's File of Canary on March 11 in conjunction with Grayscale Dogecoin and Litecoin Filings
On March 11, the US SEC delayed the approvement of many ETFs of Altcoin, including Grayscale's files for Dogecoin, Litecoin, XRP, and Cardano. The Commission also postponed its decision on the XRP and Solana ETF of Canary Capital and 21 shares. It is not to mention Canary's filing with Litecoin ETF.
The regulator also removed its decision on in-kind creation and redemption for Ibit and Fidelity's FBTC and Feth of Blackrock and Fidelity. In addition, 21 shares also found a delay in the proposal to include staking in the Ethereum (ETH) ETF.
Even with the SEC delays, James Seyffart said he believes that all of these ETFs have a high odds of approved. He noted that further delays were inevitable, a common process for the commission. In addition, Paul Atkins has not been confirmed as the new agency's new chairman at that time, which may contribute to delays.
In February, Seyffart and Eric Balchunas, Senior ETF Analyst at Bloomberg, Litecoin predicted a 90% opportunity for approval this year; Dogecoin, 75%; Solana (Sol), 70%; and XRP, 65%. They said Trump's re -election increases the possibility for all of these ETFs to be approved in 2025. “Before Trump operates, their probability of projections is 5% lower.
Some members of the crypto community hope that a Litecoin ETF can be approved
Approval of Litecoin ETF will be a major step in developing such investment offerings in crypto, especially for altcoins. This will add to the preceding Bitcoin (BTC) and Ethereum (ETH), whose ETF market areas have already been established.
However, most analysts remain cautious. The SEC prefers to delay decisions as long as legal allows, citing the need for more market monitoring agreements and stable investor protection.
In the May 5 X post, Seyffart insisted that the commission could now decide on Canary's Litecoin ETF. His post invited many comments; Some seemed to neglect his hopes, while others remained hopeful, saying that Litecoin ETF could receive approval.
However, an x user In pseudonym panda is not too excited about the news, Possession There is no use for a Litecoin ETF, especially since it still has a lower marker cap than other cryptocurrencies. He argues that he will be happier if the owner costs more than $ 100 billion. So far, Litecoin has only a market capitalization of $ 6.25 billion.
Another user Nakasa said“5 years of hope, no gratitude”, indicating that he does not fully believe that the projection is true after the previous delays and failures of predictions to be materialize.
Other users, however, have interpreted Seyffart's hopes as positive news for the entire crypto industry.
If the SEC is releasing the delay today, it would not be surprising -but this is another missed opportunity, critics argue, for the agency to signal development in modernizing crypto regulation.
Litecoin Gears up for Breakout Rally as ETF Expectations and Bullish Momentum Align
According to analyst Crypto Patel, Litecoin is on the edge of a massive rally after lipping in a multi-year resistance line. After the months of integration -with a set set, Altcoin begins to show a fresh bullish impulse and trade at $ 88.23 at the time of writing.
Patel's note that the LTC has already emerged in the previous accumulation range between $ 65 and $ 85. Short -term Price targets is $ 255 and $ 500. The length of the targets is from $ 1k to over $ 1,458. As the LTC tried the patience of investors, Patel thought everyone was set to make a huge move higher than this bullish cycle, probably up to $ 500 soon. This upward momentum may further boost the likelihood of a Litecoin ETF approved.
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