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Key Insights:
- Litecoin’s ETF listing on DTCC has fueled market speculation.
- Eric Balchunas pegs ETF approval odds at 90% for 2025.
- Litecoin price surged 46% between Feb. 2 and Feb. 19, outpacing Bitcoin.
- LTC could rally to $200 if it breaks out of its rising wedge formation.
Litecoin price is on fire, soaring 46% in just over two weeks, fueled by growing speculation around a potential Litecoin ETF approval in the United States. The hype intensified after Bloomberg analysts gave a 90% probability for approval, while Canary Capital’s Litecoin ETF appeared on the DTCC system, signaling crucial preparatory steps.
Between Feb. 2 and Feb. 19, LTC surged 46%, outpacing Bitcoin and the broader market. On-chain activity is also exploding, with daily transaction volumes hitting $9.6 billion, a 242% jump in just six months.
Litecoin ETF Sparks Frenzy as Listing Appears on DTCC
Excitement surged after Canary Capital’s Spot Litecoin ETF was listed on the Depository Trust & Clearing Corporation (DTCC), signaling a crucial preparatory step. Bloomberg analyst Eric Balchunas confirmed the development but clarified that the listing alone doesn’t guarantee approval.
“Doesn’t mean it’s approved or ready to start trading, but it does show the issuer is making preparations for when it is. We still at 90% odds,” Balchunas posted on X.
Nate Geraci, President of The ETF Store, compared the move to early-stage preparations seen in spot Bitcoin ETF approvals. He suggested that a Litecoin ETF could hit brokerage platforms sooner than expected, marking a turning point for institutional adoption.
CoinShares, a financial firm, has officially filed to list a Litecoin ETF on Nasdaq, with the SEC currently reviewing the proposal. If approved, this would allow institutional and retail investors to gain exposure to Litecoin price movements without needing to hold the asset directly.
Litecoin Price Outpaces Bitcoin as Bulls Take Charge
As ETF anticipation builds, Litecoin price action is outshining the broader crypto market. Between Feb. 2 and Feb. 19, LTC’s market cap jumped from $7 billion to over $10.2 billion, delivering 46% gains in just over two weeks.
By comparison, Bitcoin’s rally from November 2024 has been limited to 42%, suggesting that Litecoin is attracting increased investor interest. Notably, Santiment data reveals that Litecoin’s on-chain transaction volume skyrocketed to $9.6 billion, a massive 243% surge in just five months.
With institutional interest rising and the regulatory landscape shifting in favor of crypto ETFs, Litecoin’s price trajectory remains highly bullish.
Historically, the approval of spot Bitcoin ETFs triggered an influx of institutional capital, leading to new all-time highs for BTC.
If Litecoin Price breaks above its upper trendline, a surge toward $200 and beyond could be on the horizon.
Disclaimer
In this article, the views, and opinions stated by the author, or any people named are for informational purposes only, and they don’t establish the investment, financial, or any other advice. Trading or investing in cryptocurrency assets comes with a risk of financial loss.
