Litecoin ($LTC) has been pumping sharply over the last 24 hours, as the US SEC showed a response to a Litecoin spot ETF application.
Litecoin ($LTC) is a decentralized cryptocurrency founded by Charlie Lee in 2011 as a faster and lighter alternative to Bitcoin. We can call the Litecoin blockchain a copy of the Bitcoin blockchain code with some modifications in its block generation time.
On 30 Jan 2025, Bloomberg ETF expert James Seyffart confirmed that the United States Securities and Exchange Commission (SEC) acknowledged the Canary Litecoin ETF 19b-4 filing.
In response, another Bloomberg ETF expert, Eric Balchunas, said that it is the first crypto spot ETF applications that reached at this stage, after Ethereum. This means there are chances that other crypto spot ETF products will be available in the future.
Balchunas said that the situation has been changed enough & there are chances that the SEC may not postpone its decision for the next full 240 days.
The ETF expert’s statement about the lower chances of delays in the SEC’s final decision is linked to the change in the agency’s leadership. Recently, U.S. President Donald Trump appointed Mark Uyeda as the new pro-crypto chairman of the SEC.
Litecoin price action
Following this news, the trade price level of the $LTC coin surged nearly 19% in less than 24 hours. The current trade of $LTC is $132.6. In Dec 2025, the trade price of this Cryptocurrency was fluctuating around $100.
Currently, the Relative Strength Index of Litecoin is 61, meaning the trade price of this Cryptocurrency may see more investment & price pump.
Read also: Donald Trump’s Strategy to Take Over Crypto Industry: A Move Towards Monopoly?
