Increased Odds for Litecoin and Dogecoin ETFs
Recent insights from well-known ETF analyst James Seyffart reveal that the likelihood of a Litecoin (LTC) exchange-traded fund (ETF) launching in the coming months has surged to over 90%. Following closely behind is Dogecoin (DOGE), which has been given a 75% chance of ETF approval. Seyffart shared this information via an X post late Monday, emphasizing the growing optimism around these potential products.
This prediction mirrors previous forecasts made by Seyffart regarding Bitcoin (BTC) ETFs, which ultimately materialized in 2024. In the last year, numerous providers have submitted applications for ETFs linked to major cryptocurrencies under the Biden administration, although initial interest from the U.S. Securities and Exchange Commission (SEC) has been minimal.
In the past 24 hours, Litecoin has experienced a remarkable 15% surge, outperforming Bitcoin’s more modest 2% increase. Meanwhile, Dogecoin has also seen a healthy rise of 6%. This uptick in prices can largely be attributed to a shifting regulatory landscape that has enhanced hopes for ETF approvals. Recently, the SEC has passed initial reviews for certain tokens, igniting optimism among investors.
Seyffart noted, “We are assigning relatively high odds of approval across the board, particularly focusing on Litecoin, Solana, XRP, and Dogecoin at this time.” He further stated that significant developments are expected soon, particularly for XRP and Dogecoin, with filings likely to be acknowledged as early as this week.
He also highlighted that the odds for the tokens on this list, excluding perhaps Litecoin, would have been exceedingly low if the Democratic party had maintained control. If Litecoin ETFs do receive approval, they could potentially attract inflows of up to $580 million, provided they gain traction similar to that of Bitcoin ETFs, as previously reported by CoinDesk.
As of Tuesday, XRP and Solana products remain under a 70% probability of approval. The main challenge facing XRP is the possibility of appeals related to the SEC’s recently concluded case against Ripple Labs, which may affect the approval process for its ETF.
