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Cryptocurrency News Articles
US SEC to make final decision on the Canary Litecoin ETF on May 5, 2025, as LTC price shows strength
May 05, 2025 at 04:21 pm
The U.S. Securities and Exchange Commission (SEC) is set to make its final decision on the iTrust (Canary Funds) Litecoin ETF on Monday, May 5, at 11:59 p.m. E.D.T., as the LTC price shows strength with daily trading volumes surging 31%.
A decision on the ETF filing is expected by Monday as the iTrust (Canary Funds) Litecoin ETF is due for a decision (or a 45-day extension) by May 5.
However, the SEC has already gone early and delayed a bunch of other ETF filings but not this one.
If any asset has a chance of early approval it’s Litecoin. Personally, think a delay is more likely but def something to watch.
If the SEC does not approve or deny the ETF by Monday, it will be automatically extended for another 45 days.
The odds of approval for a Litecoin ETF stand at a close 90% while XRP ETFs show 85% approval chances.
Dogecoin and Cardano ETFs display strong potential at 80% and 75% respectively, according to the latest analysis by Bloomberg.
Despite these optimistic figures, Seyffart personally expects that a delay remains the most likely outcome and urges market participants to monitor developments closely.
Technical Analysis Shows Bullish Momentum
LTC price appears to be gaining bullish momentum after breaking out from a multi-year resistance line, now trading around $87.
Analyst Crypto Patel stated that LTC has broken out of its accumulation range between $65-$85, setting short-term price targets of $255 and $500.
For long-term holders, Patel forecasts even more ambitious targets between $1,000 to $1,458.
“Despite testing investors’ patience, LTC remains poised for a sharp move,” Patel noted, emphasizing the potential for a dramatic price increase in the current bull market.
The approval of an LTC ETF could serve as a catalyst for this projected rally, potentially pushing prices toward these targets more rapidly.
Multiple ETF Proposals Under Review
Canary Capital’s Litecoin ETF proposal was initially filed on October 15, 2024, as an S-1 registration statement with the SEC.
This was followed by a 19b-4 filing submitted by Nasdaq on January 16, 2025, to advance the regulatory review process.
Other Litecoin ETF proposals currently under consideration include those from Grayscale and CoinShares.
The SEC has until October to decide on all three Litecoin ETF proposals, although the iTrust (Canary Funds) LTC ETF is the first to come up for a decision.
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- Investor interest in Bitcoin is picking up again. Last week, Bitcoin exchange-traded funds (ETFs) recorded their largest inflows since December, with over $3 billion
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- Ethena Expands Its USDe and sUSDe Stablecoins to The Open Network (TON) Ecosystem
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