Analysts believe spot Litecoin ETF likely to be the first altcoin approval as Nasdaq files listing application

Nasdaq filed a Type 19b-4 on January 16 to checklist and commerce Canary Capital’s registered spot Litecoin (LTC) exchange-traded fund (ETF). Bloomberg senior ETF analyst Eric Balchunas sees this as the primary altcoin-related ETF approval in 2025.

Following an replace within the S-1 kind filed by Canary, Balchunas said that his Litecoin ETF “checked all of the bins.” He added:

“I additionally do not see any motive why this may be withdrawn, contemplating SEC commented on the S-1, Litecoin is taken into account a commodity and there’s a new SEC sheriff on the town.”

Earlier on January 16, Bloomberg analyst James Seyffart stated marked that the change on the S-1 kind didn’t assure approval. Nonetheless, it’s a signal that the US Securities and Trade Fee (SEC) is wanting into the matter.

After the Nasdaq information, Seyffart declared that it could take a couple of weeks for approval possibilities to be confirmed because the SEC has but to acknowledge the Litecoin ETF software.

He added that whereas current Solana (SOL) filings weren’t acknowledged, a Litecoin ETF may extra doubtless catch the regulator’s consideration. Seyffart reasoned that LTC is just not topic to the SEC’s allegations of being a safety, which will increase the chances.

The value of Litecoin has risen virtually 24% within the final 24 hours and stood at $129.49 on the time of writing. CryptoSlate information. That is the most important day by day acquire throughout the 25 largest cryptocurrencies by market capitalization.

Wave of approvals

Seyffart and Balchunas predicted 2025 would see a wave of ETF approvals hit the market. The almost certainly merchandise to obtain SEC approval had been the commingled ETFs, which monitor Bitcoin (BTC) and Ethereum (ETH).

These merchandise acquired their first approval in 2024 when the regulator authorised Hashdex and Franklin Templeton’s filings. The subsequent merchandise on the road are Litecoin and Hedera (HBAR), and the forecast is true on the right track.

Funds tied to XRP and SOL are additionally on the checklist, though analysts imagine they could possibly be delayed because of the SEC lawsuits classifying these crypto as securities.

Nevertheless, newly elected President Donald Trump is reportedly take into account together with XRP, SOL and USD Coin (USDC) within the US Nationwide Reserve. This may enhance the probabilities of approval for spot XRP and SOL ETFs.

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