Summarize this content to 2000 words SEO optimized article with 6 paragraphs in English The potential for a Litecoin exchange-traded fund (ETF) to gain approval has surged, leading to noticeable price gains for the digital asset.Crypto bettors on Polymarket, a decentralized prediction platform, now estimate a 51% chance of the US Securities and Exchange Commission (SEC) giving the green light for a Litecoin-focused fund after Canary Capital amended its S-1 registration form.Canary Capital amends S-1 filingOn Jan. 15, Canary Capital updated its S-1 filing with the financial regulator, with market observers pointing out that the move represents a crucial step forward in the push for a Litecoin ETF.The S-1 form—an initial registration document filed with the SEC—details new securities offerings, including the intended use of funds and an overview of the securities.Analysts view this amendment as a sign that discussions between Canary Capital and the SEC are underway, although formal approval remains uncertain.Bloomberg ETF analyst James Seyffart noted that the amendment reflects active engagement with the SEC. However, he emphasized that success is not guaranteed without submitting a 19b-4 filing—a critical step in the approval process.Similarly, Eric Balchunas, Bloomberg’s Senior ETF analyst, highlighted that this development could place Litecoin ahead of other altcoins in the race for an ETF. He believes the amendment strengthens predictions that Litecoin will be next in line for SEC approval.He added:“This looks to confirm that which bodes well for our prediction that Litecoin is most likely to be the next coin approved. All that said, new SEC chair has yet to start and that’s a huge variable.”Should the SEC approve the Litecoin ETF, it would mark a significant milestone for the digital asset. Litecoin would join Bitcoin and Ethereum as the only cryptocurrencies to achieve US-approved spot ETFs, further legitimizing its position in the market.Litecoin soarsThe prospect of regulatory approval has already triggered a bullish response in Litecoin’s price.According to CryptoSlate’s data, the crypto surged over 17% in the past day, reaching a four-week high of $120 before stabilizing at $118 as of press time.Moreover, investor interest has also been reflected in trading activity, with Litecoin’s 24-hour trading volume jumping 240% to $1.7 billion.Mentioned in this article
