NYSE Submits LTC ETF Application, Litecoin Price Strongly Recovers!
TradingKey – The New York Stock Exchange has submitted documents to the SEC for a spot Litecoin ETF, triggering a rebound in LTC prices that outperformed Bitcoin.
On February 5, Litecoin's official account announced that the NYSE has filed a 19b-4 application with the U.S. SEC on behalf of Grayscale's Litecoin ETF, seeking to convert its Litecoin (LTC) Trust into a spot ETF.
Official post from Litecoin, Source: X (@litecoin).
Following this news, Litecoin's price strengthened. According to market data, LTC rose 2% in the past 24 hours, reclaiming the $100 level, while Bitcoin fell over 1% during the same period.
LTC and BTC price trend charts, Source: CoinMarketCap.
In December 2024, Bloomberg senior ETF analyst Eric Balchunas predicted that a Litecoin spot ETF could potentially be approved before XRP and SOL. Balchunas stated:
"We expect a wave of cryptocurrency ETFs to emerge in 2025, although they won't all appear at once. The first ones are likely to be BTC+ETH combination ETFs, followed by Litecoin and HBAR (since they are not classified as securities), and then XRP and Solana."
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