TLDR
- Litecoin (LTC) experienced a notable 19% price surge in 24 hours, outperforming most other cryptocurrencies
- Large holders (sharks and whales) accumulated 250,000 LTC (approximately $30 million) in the past week
- Potential Litecoin ETF could attract between $290-580 million in first-year inflows based on Bitcoin ETF adoption rates
- Canary Capital is positioned as the likely first issuer of a Litecoin ETF, with their application now under SEC review
- Market data shows about 6% of Bitcoin’s supply is now in ETFs, providing a benchmark for potential LTC ETF adoption
After careful analysis and review of multiple market indicators, Litecoin has demonstrated strong upward momentum, with prices climbing above $120 in a decisive move that caught market participants’ attention. The cryptocurrency recorded a 19% increase in just 24 hours, making it one of the top performers among major digital assets.
Recent data from analytics firm Santiment reveals substantial accumulation by large holders, commonly known as sharks and whales. These influential investors have added approximately 250,000 LTC to their positions over the past week, representing an investment of around $30 million at current prices.
https://twitter.com/santimentfeed/status/1879673697298186531
The timing of this accumulation coincides with growing speculation about potential Litecoin ETF approvals. Canary Capital, led by former Valkyrie Funds co-founder Steven McClurg, has emerged as a frontrunner in the race to launch the first Litecoin ETF.
Market analysts are closely watching developments on the regulatory front, as Nasdaq recently filed a 19b-4 document with the Securities and Exchange Commission regarding a potential Litecoin ETF. This formal filing starts the regulatory review clock for the SEC’s decision.
Industry experts suggest that Litecoin’s technical similarities to Bitcoin, particularly its proof-of-work consensus mechanism, might work in its favor during the regulatory review process. This architectural parallel could potentially strengthen its case for classification as a commodity.
Financial projections indicate that a Litecoin ETF could attract between $290 million and $580 million in its first year of trading. These estimates are based on adoption patterns observed with Bitcoin ETFs, which currently hold approximately 6% of Bitcoin’s total supply.

Bloomberg analysts note that while these potential inflow figures may seem modest compared to Bitcoin ETF’s $108 billion or Ethereum ETF’s $12 billion, they would still place a Litecoin ETF in the top third of all U.S. ETFs by assets under management.
Current market data shows that only about 1,330 out of roughly 4,000 ETFs in the United States manage assets exceeding $300 million, suggesting that a Litecoin ETF could still achieve relative success even with more conservative inflow estimates.
The recent price movement has particularly stood out against the broader cryptocurrency market recovery. While the entire sector has shown positive momentum, Litecoin’s performance has been notably strong, with only XRP and Hedera showing comparable returns during the same period.
Weekly performance metrics indicate that despite the sharp 24-hour gain, Litecoin’s seven-day returns remain at 16%, suggesting room for potential further upward movement according to some market observers.
On-chain metrics continue to show increased activity, with particular attention being paid to wallet addresses holding between 10,000 LTC and above. These addresses have shown consistent accumulation patterns over recent weeks.
Trading volume has also seen a marked increase during this period, indicating broader market participation beyond just large holders. This widespread engagement suggests genuine market interest rather than isolated large-player activity.
The market movement comes at a time when institutional interest in cryptocurrency continues to expand, with traditional financial firms showing increased appetite for digital asset exposure through regulated vehicles like ETFs.
Analysts are monitoring supply distribution metrics as potential indicators for future price movement, noting that continued accumulation by large holders could support sustained upward pressure on prices.
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