Litecoin (LTC) Whales Accumulate 1 Million Tokens, Triggering ETF Speculation

Litecoin [LTC] is currently navigating a bearish phase, trading at $127.97 after a 0.46% dip in the past 24 hours

Litecoin [LTC] encountered a bearish trajectory on Friday, with a price decrease of 0.46% over the last 24 hours. It currently trades at $127.97, encountering a bearish spell. However, market sentiment remained optimistic as Litecoin whales sparked a wave of speculation with a significant buying spree.

Nearly 1 million LTC tokens were accumulated over the last two weeks, signaling potential bullish momentum, according to crypto analyst Ali Martinez.

This coincides with recent developments surrounding Canary Capital’s LTC ETF, which was recently listed on the Depository Trust & Clearing Corporation (DTCC), boosting investor optimism.

As expected, this surge in whale accumulation sparked notable market optimism for Litecoin. The surge highlights increased buying pressure despite the broader market’s volatility.

The probability of a Litecoin ETF receiving approval by 2025 stood at 85%, according to Polymarket data. Also, Bloomberg ETF analyst Eric Balchunas placed the approval odds even higher at 90%.

However, he clarified that while the DTCC listing signals preparation for a possible launch, it does not guarantee regulatory approval.

Given these high probabilities, Litecoin is joining the ranks of altcoins like Solana [SOL], Dogecoin [DOGE], and Cardano [ADA], which are all poised for potential ETF approval in 2025.

This trend suggests that 2025 could usher in a wave of altcoin ETFs, potentially reshaping the market landscape and allowing even more ways for people to gain exposure to crypto.