- Litecoin’s ETF proposal by Canary Capital has a 90% approval chance, according to Bloomberg analyst James Seyffart, with the SEC’s decision expected imminently.
- LTC price holds strong above key support levels, signaling a potential breakout toward $100.
Litecoin (LTC) could be on the verge of a major breakthrough, both in price and institutional acceptance, as the U.S. Securities and Exchange Commission (SEC) gears up to decide on Canary Capital’s spot Litecoin Exchange Traded Fund (ETF) proposal. Unlike applications for other altcoins such as Dogecoin and XRP, which recently faced delays, the SEC has allowed the LTC proposal to proceed uninterrupted—signaling a possible early approval.
Bloomberg ETF analyst James Seyffart has spotlighted this development, stating that Litecoin has a higher chance of approval than other altcoin ETF proposals currently under review. According to Seyffart, “LTC has the cleanest regulatory track record among the major altcoins,” making it a more straightforward candidate for SEC greenlighting.
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Canary Capital’s ETF filing, initiated as an S-1 registration on October 15, 2024, and followed by a Nasdaq 19b-4 submission on January 16, 2025, is just one of three LTC-related ETF proposals. Grayscale and CoinShares have also submitted applications, with final SEC decisions expected by October. However, recent analysis from Bloomberg pegs the probability of the Canary proposal gaining approval at an impressive 90%.
On the technical front, Litecoin continues to defend its bullish posture, currently trading at $86 and holding above critical support levels—the 4-hour 100- and 200-EMAs around $84. If buyers can push LTC above the 50 EMA and break past the ascending trendline, the psychological barrier at $100 could be the next major target.
The Relative Strength Index (RSI) is near the midline, and a push above 50 could confirm upward momentum. However, traders should watch for short-term resistance between $88 and $90.
Wider crypto sentiment and macroeconomic developments could also play a role. With the Federal Reserve expected to announce its interest rate decision soon, market volatility may increase—especially amid ongoing inflationary pressure and geopolitical trade concerns.
As traders eye Litecoin’s price action and ETF progress, many are positioning for a potential breakout. Whether or not the SEC gives the green light this week, LTC seems poised for heightened interest—and possibly, a run toward $100.
