According to ETF analyst Eric Balchunas, Litecoin, the "silver" to Bitcoin's "gold," is likely to be next in line to get its spot ETF in the US.
Canary Capital Group, a firm created by co-founder of Valkyrie Funds Steven McClurg, recently amended its S-1 filing for its ETF.
This might indicate that the SEC is leading toward approving such a product. However, nothing is certain for now.
Alex Dovbnya"We had heard chatter that the Litecoin S-1 had gotten comments back from SEC. This looks to confirm that which bodes well for our prediction that Litecoin is most likely to be the next coin approved," Balchunas said.
The LTC price is up by more than 17% over the past 24 hours, according to CoinGecko data.
Presently, Polymarkets bettors see a 54% chance of a Litecoin ETF being approved in 2025. There is a 39% chance of such a product being greenlit by the SEC before July 31.
There are pending ETF filings for such altcoins as Solana (SOL) and XRP. However, Balchunas previously opined that such products had a lower probability of being approved before Litcoin due to regulatory overhangs.
There are already several European Litecoin exchange-traded products (ETPs) offered by such firms as CoinShares and Bitwise. However, the possible approval of a Litecoin ETF would mark a watershed moment for one of the oldest altcoins. Balchunas believes that the fact that Litecoin is a fork of Bitcoin could boost its approval odds.
So far, the SEC has approved ETFs tracking Bitcoin and Ethereum. However, it is widely expected that more altcoin ETFs will be approved by the upcoming pro-crypto SEC administration.
Hedera (HBAR) could be another likely candidate to get its spot in ETF since it has never been named as a security by the SEC.
Dan Burgin
Vladislav Sopov