Top Expert: Litecoin ETF Is Next in Line
Alex Dovbnya Litecoin ETF buzz is gaining more traction Cover image via www.freepik.com According to ETF analyst Eric Balchunas, Litecoin, the "silver" to Bitcoin's "gold," is likely to be next in line to get its spot ETF in the US.Canary Capital Group, a firm created by co-founder of Valkyrie Funds Steven McClurg, recently amended its S-1 filing for its ETF.This might indicate that the SEC is leading toward approving such a product. However, nothing is certain for now. Related "We had heard chatter that the Litecoin S-1 had gotten comments back from SEC. This looks to confirm that which bodes well for our prediction that Litecoin is most likely to be the next coin approved," Balchunas said. The LTC price is up by more than 17% over the past 24 hours, according to CoinGecko data.Presently, Polymarkets bettors see a 54% chance of a Litecoin ETF being approved in 2025. There is a 39% chance of such a product being greenlit by the SEC before July 31. There are pending ETF filings for such altcoins as Solana (SOL) and XRP. However, Balchunas previously opined that such products had a lower probability of being approved before Litcoin due to regulatory overhangs. There are already several European Litecoin exchange-traded products (ETPs) offered by such firms as CoinShares and Bitwise. However, the possible approval of a Litecoin ETF would mark a watershed moment for one of the oldest altcoins. Balchunas believes that the fact that Litecoin is a fork of Bitcoin could boost its approval odds. So far, the SEC has approved ETFs tracking Bitcoin and Ethereum. However, it is widely expected that more altcoin ETFs will be approved by the upcoming pro-crypto SEC administration. Hedera (HBAR) could be another likely candidate to get its spot in ETF since it has never been named as a security by the SEC. Disclaimer: The opinions expressed by our writers are their own and do not represent the views of U.Today. The financial and market information provided on U.Today is intended for informational purposes only. U.Today is not liable for any financial losses incurred while trading cryptocurrencies. Conduct your own research by contacting financial experts before making any investment decisions. We believe that all content is accurate as of the date of publication, but certain offers mentioned may no longer be available. About the author Alex Dovbnya Alex Dovbnya (aka AlexMorris) is a cryptocurrency expert, trader and journalist with extensive experience of covering everything related to the burgeoning industry — from price analysis to Blockchain disruption. Alex authored more than 1,000 stories for U.Today, CryptoComes and other fintech media outlets. He’s particularly interested in regulatory trends around the globe that are shaping the future of digital assets, can be contacted at [email protected]. Related articles