Litecoin rises 7% as SEC nears 90% chance to approve spot ETF

Litecoin (CRYPTO:LTC) surged over 7% to $88.67 on May 1, 2025, outperforming the broader market amid growing optimism that the U.S. Securities and Exchange Commission (SEC) will approve a spot Litecoin ETF.

Bloomberg Senior ETF Analyst Eric Balchunas reported that the odds of SEC approval for a Litecoin spot ETF have climbed to 90%, with a decisive deadline set for October 2, 2025.

This potential approval is expected to broaden Litecoin’s institutional investor base and could trigger significant price appreciation.

Following a volatile period where LTC traded between $81 and $88, strong support was established near $84 after an April 30 selloff.

Bitcoin’s rally toward $100,000 has also stimulated increased buying interest in Litecoin, though some bearish pressure remains as LTC works to sustain momentum above the $85 level.

Technical analysis shows LTC forming an ascending channel and reclaiming the critical $86 level in the past 48 hours.

Strong buying interest was observed during key Fibonacci retracement levels, with momentum suggesting a possible continuation toward resistance near $88.50.

In the last hour of trading on May 1, LTC climbed above $87.19 after forming higher lows and higher highs, indicating a bullish price structure.

The SEC’s final decision on Litecoin and other altcoin ETFs like Solana (CRYPTO:SOL), XRP (CRYPTO:XRP), and Dogecoin (CRYPTO:DOGE) is expected by the fourth quarter of 2025.

At the time of writing, the Litecoin (LTC) price was \$88.95.