The Silver To Bitcoins Gold: Why A Litecoin ETF Could Drive Price To $800

Crypto analyst EXCAVO has alluded to the potential Litecoin ETFs and how they spark a massive price surge for LTC. The analyst also revealed how high LTC could rally to at the end of this bull cycle thanks to these ETFs.  How The Litecoin ETFs Could Drive LTCs Price To $800 In a TradingView post, EXCAVO highlighted the Litecoin ETFs as one of the factors that could drive LTCs price to $800 at the end of the cycle. He noted that Litecoin is just a fork of Bitcoin, and there is not much technology in it. However, he added that a decentralization and adoption issue is occurring, making LTC a suitable candidate for a potential ETF.  Related Reading: Meet The New King Of Crypto Payments: Why Users Are Choosing Litecoin Over Bitcoin The analyst indicated that these Litecoin ETFs are one of the bullish fundamentals that could send LTC to this price target. Grayscale. Canary Capital and CoinShares have all applied with the SEC to offer a Litecoin ETF. According to Bloomberg analysts Eric Balchunas and James Seyffart, there is a 90% chance of the US SEC approving these funds this year.  As such, if approved this year, these Litecoin ETFs could easily send the LTC price to $800, as EXCAVO predicted. Meanwhile, from a technical analysis perspective, the analyst also stated that the crypto has a standard triangle with horizontal resistance on top. He added that such resistances tend to break out strongly. As such, the analyst is confident that LTC can reach $800 in this cycle thanks to its bullish fundamentals and technicals.  EXCAVO also alluded to the LTC/BTC pair, noting that the fall has stopped and the bottom has been minimized. In line with this, he remarked that he expects an upward jump soon enough.  LTC Is Headed To $180 In The Short Term In an X post, crypto analyst Dom opined that the Litecoin price is headed to $180. This came as he explained why he doesnt believe LTC has topped in this cycle. Alluding to historical patterns, the analyst asserted that Litecoins chart is nothing like a topping formation. He added that tops have always been put in quickly.  Related Reading: Forget Bitcoin Holders: Litecoin Investors Are The Real Diamond Hands, According To This Metric Dom also remarked that Litecoins price is bullish, above the all-time high (ATH) Volume-weighted average price (VWAP). However, he added that a full invalidation would be an acceptance below $103.  Meanwhile, crypto analyst Crypto Bullet highlighted how LTC will fly soon. His accompanying chart showed that the Litecoin price could reach $210 when this parabolic rally happens. Crypto analyst Charting Guy is also bullish on Litecoin, describing it as XRP 2.0, indicating that it could make a comeback like XRP did last year.  At the time of writing, the Litecoin price is trading at around $123, down almost 1% in the last 24 hours, according to data from CoinMarketCap. Featured image from iStock, chart from Tradingview.com

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Ethereum ETF: Franklin Templeton Enters The Fray As ETH Rallies

Wall Street titan and Asset manager Franklin Templeton has applied for an Ethereum Spot Exchange-Traded Funds (ETF) after a struggle to gain approval for their Bitcoin Spot ETF in early January. Asset Manager Files For Spot Ethereum ETF Asset managers have gravitated toward the Ethereum spot ETF since the United States Securities and Exchange Commission (SEC) approved the Spot Bitcoin ETF. Franklin Templeton is the latest manager to apply with the SEC to get approval for this financial product.  Related Reading: SEC Delays Spot Ethereum ETF Decision; $GFOX to Outperform $ETH in 2024 The asset manager’s move came after successfully introducing the BTC spot ETFs. This is a notable step toward making more crypto investment products accessible to institutional and individual investors. James Seyffart, a senior analyst from Bloomberg Intelligence, also shared the update with the crypto community on X (formerly Twitter). Seyffart’s X post included a screenshot of the asset manager’s filing and data regarding other applicants. According to the post, Franklin Templeton is the eighth company in the cryptocurrency market to file for product approval. Previous asset managers to file applications for Ethereum ETFs include Hashdex, BlackRock, Fidelity, Ark and 21Shares, Grayscale, VanEck, Invesco, and Galaxy.  Per the official filing, a Delaware statutory trust is how the Franklin Ethereum Trust is set up. The ETF aims to give investors access to ETH in a regulated manner by allowing them to store it directly through a custodian. It states in the company’s S-1 filing that the proposed “Franklin Ethereum Trust” will hold ETH and “may, from time to time, stake a portion of the fund’s assets through one of the more trusted staking providers.” Staking is the act of locking up digital currency to maintain the operations of a blockchain network. They plan to stake some of the ETF’s ETH holdings to supplement its income through staking rewards. The Price Of ETH Rallies Amidst The Update Franklin Templeton’s spot Ethereum ETF application was made in light of the price of ETH experiencing an uptick. However, no solid proof exists that the latest development impacted the price of crypto assets. Related Reading: Ethereum ETFs Approval Date Set For May 23, Forecasts Suggest ETH Could Reach $4,000 Ethereum was trading at $2,661 as of press time, indicating an increase of over 7% in the past 24 hours. Data from CoinMarketCap shows that its market capitalization is also on the upside, marking an increase of over 7%.  Meanwhile, its trading volume has increased significantly by over 172% in the past day. Due to the rise, ETH now ranks third in the entire crypto market by trading volume. Featured image from iStock, chart from Tradingview.com

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ETF Analysts: Spot Bitcoin ETF Approval Odds at 65% Amid Pressure From Blackrock

According to James Seyffart and Eric Balchunas, two analysts specializing in exchange-traded funds (ETFs) at Bloomberg, the likelihood of a spot bitcoin ETF debut in the U.S. has surged to 65%. These analysts attribute this increase to “pressure from Blackrock and possibly Democrats,” a force that could compel the U.S. Securities and Exchange Commission to [...]

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