Litecoin (LTC) Rockets by Double-Digits to Hit a Four-Week High of $129.45

Litecoin price today hit a four-week high of $129.45 as optimism builds around the potential approval of a U.S.-listed spot exchange-traded fund (ETF) that tracks the LTC price directly ahead of what is viewed as a crypto-friendly Trump administration.

At the time of writing, Litecoin is trading at around $137.34, up 21.5% for the day, according to CoinGecko.

According to blockchain analytics firm Santiment, the rally is being driven by Litecoin whales and sharks snapping up roughly 250,000 LTC, valued at around $29 million since Jan. 9.

Litecoin's surge also follows an amendment to Canary Capital's S-1 registration form with the U.S. Securities and Exchange Commission (SEC) on January 15, a move that is being widely interpreted as a significant step toward regulatory engagement.

Should Canary's ETF proposal secure SEC's regulatory green light, Litecoin would join Bitcoin (BTC) and Ethereum (ETH) as the only other cryptocurrencies with U.S.-approved spot ETFs.

The filing drew comments from Bloomberg ETF analysts Eric Balchunas and James Seyffart, with Balchunas highlighting “chatter that the Litecoin S-1 had gotten comments back from SEC,” which he suggests “bodes well” for projections that Litecoin is likely to be the next major crypto to secure its own spot ETFs.

Several different spot crypto ETFs, including ones based on LTC, have been applied for by multiple asset managers. Canary Capital initially filed its Litecoin ETF S-1 statement with the SEC in October 2024.

Following the amended S-1 filing on Wednesday, the Nasdaq exchange filed the crucial 19b-4 form on behalf of Canary. This is a regulatory filing that formally starts the clock for approval or denial by the SEC. The form states that Coinbase Custody Trust Company LLC will custody the ETFs Litecoin.

According to Balchunas, the impending leadership change at the SEC as Paul Atkins replaces Gary Gensler as the regulator's chairman introduces a “huge variable” in the regulatory outlook. Atkins is expected to create a more favorable environment for crypto ETF approvals.

In a Jan. 16 post on X, the Bloomberg analyst adds that the Litecoin ETF application has met all the necessary requirements and conditions for approval.

Litecoin ETF now has all the boxes checked. The first alt coin ETF of 2025 is about to be on the clock. I don't see any reason why this would be withdrawn either given SEC gave comments on the S-1, litecoin is seen as commodity and there's new SEC sheriff in town. https://t.co/DaE7jxlb9s

Despite the latest rally, Litecoin remains about 68% below its all-time high of $410.26, reached in May 2021, leaving room for growth if the SEC does end up giving its regulatory blessing.