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Litecoin (LTC) could soon join the list of spot crypto exchange-traded funds (ETFs) trading in the US, with Bloomberg analysts giving it an over 90% chance of approval. In a recent X post, analyst James Seyffart noted high approval odds for Litecoin, Solana, XRP, and Dogecoin ETFs. However, Litecoin had the highest chance of being approved due to the US Securities and Exchange Commission (SEC) deeming LTC a commodity. Will a Litecoin ETF push LTC to ATH? In the analysis, Seyffart noted that the SEC has until October 2 to give its decision on the Litecoin ETF product following the filings by Canary and Grayscale. The securities regulator acknowledged the 19b-4 filings for this ETF in mid-January. As ZyCrypto reported, the SEC is already seeking public comments on the submissions made by issuers for the Litecoin ETF. If these filings are approved, Litecoin will become the third crypto ETF in the US. Litecoin is already reacting to this development, given that the price has increased by 8% within 24 hours. At press time, LTC traded at $127, with analysts speculating that the altcoin was poised for further gains. According to analyst Kaleo, Litecoin appears ready to be gearing up for a rally to all-time highs. In an X post, the analyst stated that the current LTC setup seemed similar to 2023, when the altcoin was undergoing halving. (Source: X) Litecoin remains 69% shy of its all-time high. However, the bullish outlook provided by the increased chances of an ETF approval could support a strong rally. Analyst Lark Davis also noted that the short-term momentum on the token had flipped bullish. He noted that the token had retaken the 20-day and the 50-day EMAs. Moreover, a bullish crossover had appeared, signaling rising buying momentum. Crypto ETF War Heats Up Besides Litecoin, various issuers have also submitted filings seeking approval for Solana, XRP, Dogecoin, HBAR, and Polkadot ETFs. According to Bloomberg analysts, Solana ETFs have a 70% chance of approval, while XRP’s odds stand at 65%. However, they remained skeptical about the approval of HBAR and DOT ETFs. Cardano is also joining the ETF race after the world’s largest digital asset manager, Grayscale, filed a 19b-4 form for a spot Cardano ETF. Grayscale was instrumental in the approval of a spot Bitcoin ETF following its lawsuit against the SEC.

Hong Kong has made a groundbreaking move by officially accepting Bitcoin (BTC) and Ethereum (ETH) as valid proof of wealth for its Capital Investment Entrant Scheme (CIES) . This program allows high-net-worth individuals to apply for residency by providing a net worth of at least HK$30 million (approximately US$3.8 million) . While cryptocurrencies are now accepted for asset verification, they are not considered "permitted assets" for actual investment under the scheme. Applicants must convert their BTC or ETH holdings into qualifying investments within six months. This policy aligns with Hong Kong's broader push to establish itself as a global digital finance hub. To qualify under the CIES using Bitcoin or Ethereum, applicants must meet specific criteria: Two successful applications from mainland China have already been approved under this policy—one in October 2024 using Bitcoin and another in February 2025 using Ethereum. The inclusion of Bitcoin and Ethereum as recognized assets in Hong Kong's investment visa program could drive institutional and high-net-worth investor demand. This decision strengthens Bitcoin and Ethereum's credibility as legitimate financial assets, potentially influencing other jurisdictions to follow suit. Increased adoption of cryptocurrencies by regulatory frameworks typically leads to higher demand, reducing available supply on exchanges. Given the liquidity constraints in the Bitcoin and Ethereum markets, this shift could exert upward pressure on prices over time. Hong Kong has positioned itself as a leading digital finance hub by integrating crypto-friendly policies. With over 750 applications already submitted under the CIES program, a significant portion of new investors may consider utilizing Bitcoin or Ethereum, further embedding these assets within traditional financial systems. If other regions adopt similar policies, Bitcoin and Ethereum could see increased mainstream acceptance, reinforcing their long-term bullish outlook. Despite the positive outlook, several factors could limit the immediate impact of this decision: Market Volatility: Crypto’s price swings could deter investors who prefer stable assets for residency or investment programs. Conversion Requirement: Since applicants must convert their crypto into traditional financial assets, direct price impact on BTC and ETH may be limited in the short term. Regulatory Risks: Other financial hubs, such as Singapore, have taken a more cautious stance on crypto adoption. Future regulatory shifts could impact Hong Kong's position as a crypto-friendly jurisdiction. Hong Kong’s decision to allow Bitcoin and Ethereum as proof of wealth for its investment visa marks a milestone in the integration of digital assets into the financial system . While the short-term price impact remains uncertain due to conversion requirements, the long-term outlook remains bullish. Increased institutional adoption and mainstream recognition could solidify Bitcoin and Ethereum’s role in global finance, setting the stage for further price appreciation in the years ahead.

Grayscale is filing for the first-ever spot Cardano ETF in the U.S. This step was made official through a 19b-4 form submission to the SEC, marking Grayscale’s ambitious push to expand institutional access beyond Bitcoin and Ethereum. This filing also happens to be the 60th crypto ETF application of the year, reflecting the fast-paced evolution of crypto in traditional finance. By filing for a spot Cardano ETF, Grayscale aims to bring ADA directly into the U.S. spot ETF market for the first time ever. The 19b-4 form is a crucial step, acting as a formal request to the SEC for a rule change that would allow ADA to be listed on an exchange. However, even if this hurdle is cleared, an effective S-1 registration statement will still be required before trading can officially begin. The market wasted no time reacting to the news. ADA surged nearly 14% within 24 hours of the announcement, reaching $0.80 as of February 11. While this is a strong rally, ADA remains 76% below its all-time high of $3.10 from September 2021. Still, the price movement signals strong investor optimism around the potential for altcoin ETFs to gain mainstream traction. ADA/USDT 1-day chart - Bitget Grayscale's filing isn't an isolated event—it's part of a much larger trend. Bloomberg ETF analyst Eric Balchunas highlighted that this is approximately the 60th crypto ETF filing this year alone, underlining the aggressive pace at which asset managers are racing to get regulatory approvals. This surge in applications comes amid shifting regulatory dynamics, especially with the SEC's evolving stance on crypto ETFs. According to Bloomberg analysts James Seyffart and Eric Balchunas, the odds look promising for other altcoin ETFs as well. They estimate a 90% chance of approval for a Litecoin ETF and 70% for Solana , both of which have pending 19b-4 filings. Final decisions are expected on October 2 for Litecoin and October 25 for Solana. Additionally, the odds of XRP and Dogecoin ETFs being approved stand at 65% and 70%, respectively.

On Feb. 10, crypto asset manager Grayscale officially filed for a Cardano exchange-traded fund with the New York Stock Exchange, expanding its push into regulated crypto investments. The firm has never previously offered a standalone investment vehicle for ADA despite making past moves to do so. Asset managers have been emboldened by President Donald Trump’s embrace of crypto with ETF applications for altcoins, including XRP, Solana, and Litecoin, in recent weeks from the likes of Canary Capital, WisdomTree, 21Shares, Bitwise, and VanEck. Grayscale filed 19b-4 for a spot Cardano ETF. First one in US and ballpark 60th crypto ETF filed this year so far pic.twitter.com/alj7EjtfIS — Eric Balchunas (@EricBalchunas) February 11, 2025 Cardano ETF Inbound Grayscale has filed to convert its existing SOL and XRP trusts into a spot ETF but the ADA fund would be a new product. On Jan. 30, NYSE Arca filed to convert Grayscale’s XRP trust into a spot ETF, and on Feb. 6, it did the same for its SOL trust. According to the 19b-4 filing, the Trust will hold only ADA, with each share representing a proportional interest in the fund’s holdings. Coinbase Custody would be the custodian of the assets, and BNY Mellon Asset Servicing would serve as administrator. “Institutional interest in Cardano is heating up,” commented IBC Group founder Mario Nawfal who added that the move comes just a week after Virtune AB launched a Cardano ETP on Nasdaq Helsinki. The Cardano native token has surged 14% on the day, with most of the gains coming in the past couple of hours after the news broke. ADA hit an intraday high of $0.8 but still remains down 17% over the past fortnight as altcoins have been battered recently. ADA hit a 2025 high of $1.16 on Jan. 18 but has been down-trending since. Nevertheless, analysts remain hopeful that ADA will continue its bullish momentum, which has seen the asset gain 140% over the past six months, especially if a spot ETF is approved in the US by the SEC. Spot Crypto ETF Outlook Spot Bitcoin ETFs in the United States have had a mixed month in February, which has seen $578 million in inflows and $561 million in outflows, according to Farside Investors. Monday was another outflow day, with $186.4 million leaving the funds on aggregate. Fidelity’s FBTC saw the largest outflow with $136 million, followed by Grayscale’s GBTC, losing $46.3 million. BlackRock’s IBIT saw $55.3 million in inflows, but it wasn’t enough to turn the daily flow positive. Spot Ethereum ETFs have been positive, with just one outflow day so far in February, which was Monday. Feb. 10, when $22.5 million left the products. The post ADA Pumps 14% as Grayscale Files For Spot Cardano ETF appeared first on CryptoPotato.

Ethereum (ETH) is stuck in consolidation, with the price oscillating between $2,700 and $2,600 in the last three days. Despite the range-bound movement, activity in the Ethereum derivatives market has spiked considerably, with short sellers increasing their positions. Per Kobeissi’s Letter, the number of short positions on ETH has surged to a historic high. This rise shows that many traders are bearish and anticipating that Ethereum could plunge further. However, this scenario could flip bullish if a sudden surge in ETH price hits a liquidation level that forces short sellers to close their positions, leading to a short squeeze. Short Sellers Increase Ethereum Bets Per the analysis, short sellers began to increase their Ethereum positions on February 2, after the altcoin crashed by more than 30% in less than three days. ZyCrypto reported that this crash coincided with one of the biggest liquidation events in crypto history, where more than $2 billion was wiped out within 24 hours. Despite the recent drop, short traders anticipate that Ethereum will drop further. In fact, since November last year, short positioning has increased by 500%. One of the reasons why traders have become bearish on ETH is the generally negative outlook on the network. Besides the rising supply that has gone back to pre-merge levels, activity on the Ethereum network has also slumped, with decentralized finance (DeFi) Total Value Locked (TVL) dropping to November lows of $73 billion. “Potential reasons range from market manipulation to harmless crypto hedges to bearish outlook on Ethereum itself. However, this is rather strange as the Trump administration and new regulators have favored ETH,” the report stated. Trump’s Bullish Bet on Ethereum Despite the negative sentiment of the increasing short positions, the altcoin’s recognition by World Liberty Finance, a DeFi platform by the Trump family, could boost Ethereum’s long-term outlook. At the same time, Eric Trump recently tweeted that now was “a great time to add ETH.” This could boost the general outlook around the altcoin. Moreover, institutions seem to be betting big on Ethereum after recent weekly inflows of $420M into spot Ethereum exchange-traded funds per SoSoValue. This further highlights rising interest that could bode well for future price performance. If these catalysts stir an Ethereum price rally and the price hits these liquidation zones, short sellers will be forced to close their positions by buying. The rising demand could push ETH past the $3,000 range.