Litecoin ETF Bid Gains Traction, Lifting Prices and Trading Volume

Canary Capital’s strategic S-1 amendment positions Litecoin at forefront of ETF approval race.

Nasdaq filed a 19b-4 Form on Jan.16 to list and trade the spot Litecoin (LTC) exchange-traded fund (ETF) registered by Canary Capital. According to the filing, the ETF will trade on the exchange under the ticker symbol “LITC.”

The filing comes after Canary Capital made an amendment to its S-1 Form registration on Jan.12, adding the Nasdaq listing details for its Litecoin ETF product.

Bloomberg senior ETF analyst Eric Balchunas sees this as the first altcoin-related ETF approval in 2025. He highlighted the key update in Canary Capital’s Litecoin ETF bid on Jan.16. Balchunas stated that the ETF “has all the boxes checked.”

” don’t see any reason why this would be withdrawn either given SEC gave comments on the S-1, Litecoin is seen as commodity and there’s new SEC sheriff in town,” Balchunas added.

Earlier on Jan. 16, Bloomberg analyst James Seyffart highlighted that the amendment on the S-1 Form was no guarantee of approval. Yet, it is a sign that the US Securities and Exchange Commission (SEC) is engaging with the matter.

After the Nasdaq filing news, Seyffart stated that it might take a couple of weeks to confirm the approval odds, as the SEC still has to acknowledge the Litecoin ETF application.

He added that while recent Solana (SOL) filings were not acknowledged, a Litecoin ETF might more likely receive the regulator’s attention. Seyffart reasoned that LTC is not subject to the SEC’s accusations that it is a security, which boosts its odds.

Litecoin’s price soared by nearly 24% in the past 24 hours, sitting at $129.49 as of press time, according to CryptoSlate data. This is the largest daily gain within the 25 largest crypto by market cap.

Wave of approvals

Seyffart and Balchunas predicted a wave of ETF approvals would hit the market in 2025. The most likely products to receive SEC approval were the mixed ETFs, tracking Bitcoin (BTC) and Ethereum (ETH).

These products received their first approvals in 2024 when the regulator approved Hashdex and Franklin Templeton filings. The following products on the line are Litecoin and Hedera (HBAR), and the prediction is right on track.

Funds tied to XRP and SOL are also on the list, although analysts believe they might suffer delays due to the SEC lawsuits that consider these crypto as securities.

However, President-elect Donald Trump is reportedly considering including XRP, SOL, and USD Coin (USDC) in the US National Reserve. This would favor the odds of approval for spot XRP and SOL ETFs.

Mentioned in this article

Gino Matos

Gino Matos is a law school graduate and a seasoned journalist with six years of experience in the crypto industry. His expertise primarily focuses on the Brazilian blockchain ecosystem and developments in decentralized finance (DeFi).

Assad Jafri

AJ, a passionate journalist since Yemen's 2011 Arab Spring, has honed his skills worldwide for over a decade. Specializing in financial journalism, he now focuses on crypto reporting.

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