Litecoin ETF Approval Chances Increase, $500 Target Price Awaits!

Updated

May 6, 2025

Gambar Litecoin ETF Approval Chances Increase, $500 Target Price Awaits!

Jakarta, Pintu News – On May 5, 2025, the United States Securities and Exchange Commission (SEC) will make a final decision on the Canary Litecoin ETF, as the price of LTC rises and daily trading volume surges by 31% to exceed $338 million.

ETF strategist from Bloomberg, James Seyffart, stated that while the SEC has delayed the decision for other crypto ETFs, they have not given any decision regarding the Canary fund.

Litecoin ETF decision nears as SEC deadline approaches

The @CanaryFunds Litecoin ETF filing is due for a decision (possibly a delay) by Monday 5/5. SEC went early & delayed a bunch of filings but not this. If any asset has a chance of early approval it's Litecoin IMO. Personally think a delay is more likely but def something to watch pic.twitter.com/FilnUcMtUH
— James Seyffart (@JSeyff) May 4, 2025

In a previous post on the X platform, James Seyffart mentioned that while the SEC has delayed several other ETF filings, this particular proposal from Canary Funds has not been delayed.

Among other altcoins such as XRP , Solana , and Cardano, market analysts believe that Litecoin (LTC) has a greater chance of approval due to its unique characteristics and regulatory track record.

Approval odds for Litecoin ETFs are estimated at around 90%, while those for XRP ETFs and others are in the 85% range, according to reports last week. Dogecoin and Cardano ETFs also show strong potential, with approval odds of 80% and 75% respectively.

Similarly, the Polka Dot , HBAR, and Avalanche (AVAX) ETFs remain competitive, with odds of 75%, 80%, and 75% respectively.

However, Seyffart personally estimates that a delay for the Litecoin ETF is still the most likely possibility. He advises market participants to keep an eye on this development.

Amid the SEC’s efforts to navigate the evolving regulatory landscape regarding crypto ETFs, demand for Bitcoin ETFs has picked up again, reflected by strong inflows over the past week.

Analysts aim for $500 price target for Litecoin (LTC)

According to Crypto analyst Patel, LTC prices seem to be on the verge of a major rally after successfully breaking through a long-term resistance line that has been in place for several years.

$LTC MACRO BREAKOUT – NEXT LEG INCOMING?#LITECOIN confirmed a breakout above its multi-year resistance line after holding the Best Accumulation Zone for months!

🔸 Support Held: ~$65
🔸 Accumulation Zone: ~$85-$65
🔸 Short-Term Target: $255/$500
🔸 Long-Term Target:… pic.twitter.com/wrFb0bpqT0
— Crypto Patel (@CryptoPatel) May 4, 2025

After months of consolidating within a certain price range, LTC’s bullish momentum has begun to strengthen, with prices trading around $87.00 at the time of this report.

Crypto Patel stated that LTC has managed to break out of the accumulation zone between $65-$85, and is now targeting short-term prices at $255 to $500.

Interestingly, he also projects a long-term price target in the range of $1,000 to over $1,458.

“Despite testing investors’ patience, LTC remains poised for a sharp move,” Patel said. He emphasized the potential for a significant surge during this bull market, with the possibility of reaching $500 in the near future. In addition, the approval of the LTC ETF could also be a strong catalyst to fuel further price rallies.

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*Disclaimer

This content aims to enrich readers’ information. Pintu collects this information from various relevant sources and is not influenced by outside parties. Note that an asset’s past performance does not determine its projected future performance. Crypto trading activities have high risk and volatility, always do your own research and use cold cash before investing. All activities of buying and selling bitcoin and other crypto asset investments are the responsibility of the reader.

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