Analysts believe spot Litecoin ETF likely to be the first altcoin approval as Nasdaq files listing application
Nasdaq filed a 19b-4 Form on January 16 to list and trade a spot Litecoin (LTC) exchange-traded fund (ETF) registered by Canary Capital. Bloomberg analyst Eric Balchunas views this as the first altcoin-related ETF approval anticipated in 2025. Following an update to the S-1 Form, Balchunas noted that the Litecoin ETF meets all necessary criteria and is unlikely to be withdrawn, especially since the SEC has provided comments on the S-1. Analyst James Seyffart indicated that while the amendment does not guarantee approval, it shows SEC engagement. Litecoin's price surged nearly 24% to $129.49. Predictions suggest a wave of ETF approvals in 2025, with mixed ETFs tracking Bitcoin and Ethereum likely to be prioritized. Litecoin and Hedera are next in line, while XRP and Solana may face delays due to ongoing SEC lawsuits. President-elect Donald Trump is considering including XRP, Solana, and USD Coin in the US National Reserve, potentially improving approval odds for their ETFs.
