LTC (Litecoin) rose 8.38% in 24 hours

Gate News Bot news, on October 10, according to CoinMarketCap data, LTC (Litecoin) is currently priced at $129.03, with a rise of 8.38% in the last 24 hours, reaching a high of $129.03 and a low of $115.57. The 24-hour volume reached $1.396 billion. The current market capitalization is approximately $9.857 billion, an increase of $762 million compared to yesterday. LTC is currently ranked 18th in market capitalization.

Important news about LTC recently:

1️⃣ Canary submits amendment for Litecoin spot ETF Canary Capital has submitted an S-1 amendment for the Litecoin (LTC) spot ETF, setting the trading code as LTCC with a fee rate of 0.95%. This move marks the final preparation stage before the official launch of the LTC ETF product, bringing positive expectations to the market.

2️⃣ LTC ETF approval expectations rise Bloomberg's senior ETF analyst Eric Balchunas stated that despite the uncertainty brought by the U.S. government shutdown, the LTC ETF-related documents are quite well-prepared, and official approval may be "within reach." This view was echoed by Bloomberg Intelligence analyst James Seyffart, further boosting market confidence.

3️⃣ ETF Fee Rate Positioning Analysis The 0.95% fee rate of the LTC ETF, although higher than that of the spot Bitcoin ETF, is considered a common level for emerging and niche ETF products. This pricing strategy reflects the market's recognition and demand for crypto asset ETFs like LTC.

The strong rise in LTC prices may be closely related to developments regarding ETFs. As the regulatory environment becomes clearer, investor expectations for the long-term value of LTC have improved. However, the cryptocurrency market still exhibits high volatility, and investors need to carefully assess risks.

This message is not an investment advice, and investors should be aware of market volatility risks.