Litecoin (LTC) Surges 12% as Nasdaq Files Spot ETF Listing Application with the SEC

Nasdaq filed a request with the Securities and Exchange Commission (SEC) to list a spot exchange-traded fund (ETF) tracking the price of Litecoin (CRYPTO: LTC).

Here's what it means for Litecoin and what to expect next.

Nasdaq filed a 19b-4 application with the SEC on Thursday to list and trade shares of an ETF applied by digital asset trading firm Canary Capital.

The 19b-4 filing marks the second step in the ETF approval process, which followed Canary Capital’s amended S-1 registration application on Wednesday.

The SEC has 240 days to deny or approve the 19b-4 application, as per the rules.

Responding to the filing, leading ETF analyst Eric Balchunas said that Litecoin ETF has "all the boxes checked" and is set to become the first altcoin ETF of 2025.

Litecoin ETF now has all the boxes checked. The first alt coin ETF of 2025 is about to be on the clock. I don't see any reason why this would be withdrawn either given SEC gave comments on the S-1, litecoin is seen as commodity and there's new SEC sheriff in town.

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Surging 12% in response to the filing, Litecoin is a coin that was created from the hard fork of Bitcoin (CRYPTO: BTC).

The proof-of-work cryptocurrency witnessed a 50% jump in trading volumes, reaching $2.34 billion.

LTC's 22% year-to-date gains are fueled by excitement surrounding its potential ETF.

Dubbed the “digital silver” to Bitcoin’s gold, Litecoin is widely viewed as a commodity, which has helped it evade the attention of U.S. regulators.

The Dogecoin (CRYPTO: DOGE) network’s underlying technology is notably derived from Litecoin.

Speculative interest in LTC surged, with a 23% increase in money invested in futures contracts, as per Coinglass.

Over 50% of traders placed bullish bets on the coin, anticipating further increases.

At the time of writing, Litecoin was trading at $135.30, up 13.81% over the past 24 hours, according to Benzingas Pro data.

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