Analysts Predict High Chances for Approval of Litecoin and Dogecoin ETFs
Recent analysis suggests a 90% likelihood of Litecoin ETFs being approved soon, with Dogecoin's prospects not far behind at 75%.
Key Insights:
- Analysts estimate a 90% chance of approval for a Litecoin (LTC) ETF in the near term, with 75% odds for Dogecoin (DOGE).
- Positive regulatory developments over recent weeks have increased optimism among investors regarding ETF approvals.
Detailed Analysis:
According to noted ETF analyst James Seyffart, predictions were conveyed through a recent social media update. This follows a history of accurate forecasts regarding Bitcoin ETF approvals made by Seyffart prior to their launch in 2024. Despite the push from various ETF providers under the Biden administration, approval has historically been sluggish due to the U.S. Securities and Exchange Commission’s (SEC) cautious approach.
In the last 24 hours, Litecoin has gained 15%, while Bitcoin (BTC) and Dogecoin (DOGE) saw increases of 2% and 6%, respectively. The SEC’s recent easing of regulations regarding some tokens has stirred hopes for ETF validation. Seyffart anticipates imminent acknowledgment of ETF filings for XRP and Dogecoin.
“We’re projecting remarkably high odds of approval broadly, particularly for Litecoin, Solana, XRP, and Dogecoin,” said Seyffart. He also noted that previous odds would have been dramatically lower if the Democratic party maintained control.
The market response to potential Litecoin ETFs could lead to capital inflows of approximately $580 million if adoption parallels that of Bitcoin’s ETFs.
For ongoing updates and analysis subscribe to the Crypto Daybook Americas Newsletter.
