Litecoin’s Price Jumps on ETF Filing
Litecoin’s price soared by 15%, reaching a four-week high of $118, following Canary Capital’s amendment to its SEC filing for a Litecoin-based exchange-traded fund (ETF). The filing indicates ongoing regulatory engagement and has sparked optimism about Litecoin potentially joining Bitcoin and Ethereum in securing a U.S.-approved spot ETF.Key Updates in the Filing
Canary Capital’s amended filing addresses custodial agreements with Coinbase and BitGo, aligning with SEC standards. Updates also include revisions to accounting, marketing, and tax provisions, signaling progress toward regulatory approval.Increased Institutional Interest
Blockchain analytics firm Santiment reported a spike in whale activity, with large Litecoin holders accumulating 250,000 LTC ($29 million) since January 9. Despite the rally, Litecoin’s current price remains significantly below its all-time high of $410 in May 2021.Competitive ETF Landscape
Other firms, including Bitwise and VanEck, have filed for Solana ETFs, intensifying competition among altcoins. Analysts predict that if approved, Litecoin ETFs could attract substantial institutional inflows, further legitimizing the asset.
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