$LTC The U.S. Securities and Exchange Commission (SEC) has officially acknowledged CoinSharesâ Litecoin ETF filing via Nasdaq, marking a crucial step toward its potential approval. This milestone follows Nasdaqâs rule change proposal on February 7, aiming to list and trade shares of the CoinShares Litecoin ETF. While still in its procedural phase, the ETFâs approval prospects appear strong, fueling optimism in the Litecoin (LTC) community.
With the discussion period now open, market participants and stakeholders have an opportunity to weigh in. Litecoin, a well-established cryptocurrency with institutional backing from Grayscale, has long been seen as an undervalued asset. If approved, this ETF could provide a significant catalyst, potentially breaking LTC out of its prolonged sideways trading range and driving it toward new highs. The listing of Litecoin ETF shares will follow Nasdaq's standard equity securities framework, available for trading between 4:00 AM and 8:00 PM ET.
LTC Price Action and Future Outlook
Following the ETF filing acknowledgment, LTC surged to $136.56, gaining over 11% in a dayâoutpacing most other assets. Although its price movement remains relatively modest compared to major breakouts, Litecoin is gradually regaining traction, drawing interest alongside other legacy cryptocurrencies.
Several factors could further drive LTCâs price growth:
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Institutional Interest â Grayscaleâs LTC Trust holds 2.04M LTC, and similar to Ethereumâs ETF launch, initial sell pressure may emerge but could be absorbed over time.
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Network Growth â Litecoinâs hashrate has tripled since early 2024, significantly improving its security and reliability.
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Mainstream Adoption â With 200K daily transactions, LTC remains one of the most widely used payment networks, offering confidentiality features (which must be disabled on centralized exchanges).
In the past, Litecoin ranked among the top 5 cryptocurrencies, and speculation suggests it could reclaim a top 10 position if it doubles its price to $270. Some bold predictions even hint at LTC potentially reaching $1,000 in an extended bull run. Meanwhile, the positive momentum has spilled over to Dogecoin (DOGE), which surged past $0.25âgiven its close mining connection with LTC.
With the meme coin trend cooling off, investors are looking toward more established assets with long-term utility. If momentum continues and institutional demand rises, Litecoin could be on the verge of a significant breakout. đđ„
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