tl;dr
Litecoin reached a five-month high of $128.40 amid ETF approval rumors and corporate treasury investments, currently trading at $123.60 with a 5.8% increase in 24 hours and 12.3% over the week. Its market cap stands at $9.4 billion after a 41% surge this month. The chance of a Litecoin ETF approval ...
Litecoin surged to a five-month high of $128.40 on Tuesday morning amid rumors of ETF approval and significant corporate treasury investments. Although LTC has pulled back slightly, it remains up 5.8% to $123.60 in the past 24 hours and 12.3% over the past week, according to CoinGecko data. This month alone, Litecoin has surged over 41%, pushing its overall market capitalization to $9.4 billion.
The likelihood of a Litecoin ETF approval in 2025 currently stands at 80%, based on predictions from decentralized platform Polymarket. This optimistic outlook follows several ETF filing developments: Tennessee-based Canary Capital submitted a filing to list an LTC ETF on Nasdaq in mid-January, followed by applications from Grayscale Investments and CoinShares. Grayscale's filing targets NYSE Arca.
Market adoption is also gaining momentum. CoinGate, a cryptocurrency payment gateway, reported that Litecoin accounted for 14.5% of crypto payments on its platform last month, making it the second most accepted cryptocurrency behind Bitcoin and just ahead of USDC.
Corporate treasury interest is fueling Litecoin's price gains. MEI Pharma, a publicly traded pharmaceutical company, closed a $100 million private placement to pivot into a Litecoin treasury firm. Illia Otychenko, lead analyst at crypto exchange CEX.IO, attributes Litecoin’s recent success primarily to MEI Pharma’s treasury purchase rather than ETF hype or growing market adoption. He notes that the 90% ETF approval odds have been public since February when the SEC acknowledged ETF filings.
Otychenko suggests that MEI Pharma's investment could signal a broader trend, opening the door for Litecoin to attract further corporate treasury involvement. As companies increasingly transform into crypto investment vehicles, Litecoin may benefit from this evolving corporate adoption, contributing to sustained price momentum beyond the ETF narrative.