How High Will LTC Prices Go If ETFs Are Approved?

Bittime - In 2024, public attention will turn to exchange-traded funds (ETFs). Temporary Bitcoin (BTC) dominates attention, many expect more cryptocurrencies to join the category. One of them is Litecoin (LTC). Check out the LTC price prediction if its ETF is approved.

Litecoin ETF Potentially Approved

Amidst this situation, a leading analyst revealed that Litecoin (LTC) could potentially be the next digital asset to gain ETF approval. This news triggered a significant price spike, and the community began speculating about possible further increases following the approval.

Potential Litecoin ETF Approval

Litecoin is expected to be the next digital asset in the US to get the green light for an ETF, following in the footsteps of Bitcoin and Ether. This is based on the latest filing from Canary Capital for their Litecoin ETF. Eric Balchunas, senior ETF analyst at Bloomberg, confirmed that the odds for LTC ETF approval are quite high.

Litecoin's S-1 Is Already in the SEC, but the New SEC Chair Hasn't Taken Place Yet

Balchunas stated, "We heard word that Litecoin's S-1 has received a response from the SEC. This confirms our prediction that Litecoin will most likely be the next coin approved." 

However, it is worth noting that the new SEC chairman has not yet taken office, which is an important variable in this process.

Read too Litecoin ETF Has Been Proposed By Canary Capital, Here's The Latest Update

Litecoin (LTC) Price and Trading Volume Surge

At the time of writing, Litecoin was trading at $119.45 after experiencing a surge of 17.34%. 

This price spike made LTC one of the best performing coins, outperforming most of the rest of the market. 

Additionally, Litecoin trading volume also increased rapidly, with a 302% increase in daily volume, indicating increased buying activity in the LTC market.

Read too How to Buy Litecoin (LTC)

Litecoin Price Prediction

Based on data from CoinCodex, it is estimated that Litecoin will trade in a range of $83.05 to $250.21 in 2025, with an average annual price of around $129.55. 

When compared to current prices, this could provide a potential return on investment of 109.66%. 

While this is a significant jump from current price levels, it is still far from its all-time high.

Read too Free Litecoin: How to Get LTC Crypto Through a Faucet

Conclusion: LTC Ever Priced $400 Over

Litecoin hit a record high of $412 in 2021, and the community is hoping to witness an increase in the price of this altcoin with the approval of a Litecoin ETF.

FAQ

1. What is a Litecoin ETF?

A Litecoin ETF is an exchange-traded fund that allows investors to gain exposure to Litecoin (LTC) without having to purchase the coin directly. This provides an easier and more affordable way to invest in cryptocurrency.

2. Why is ETF approval important for Litecoin?

ETF approval could increase Litecoin's legitimacy and adoption in the market, potentially driving LTC prices up. This could also attract more institutional investors into the Litecoin ecosystem.

3. What is the expected price of Litecoin if the ETF is approved?

Based on the analysis, Litecoin is expected to trade in the range of $83.05 to $250.21 in 2025, with a potential investment return of 109.66% compared to the current price.

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Reference

cryptorank.io, How High Will LTC Surge If Litecoin ETF Is Approved?, Accessed January 21, 2025

Author: IN