The price of Litecoin (LTC) increased by almost 10% on Saturday as the likelihood of an exchange-traded fund (ETF) approval for the cryptocurrency rose. This rise in price came as CoinShares, a company with nearly $10 billion in assets, filed for a Litecoin ETF with the U.S. Securities and Exchange Commission (SEC). Crypto analysts are optimistic about the approval, as Litecoin is viewed by the SEC as a proof-of-work cryptocurrency and not an unregistered security. A Polymarket poll indicates an 81% chance of approval. An approved ETF could bring fresh institutional capital to Litecoin, but recent trends in Ethereum and Bitcoin ETFs show limited institutional demand. The Litecoin price has rebounded significantly, reaching its highest level since January 18 and sitting 47% above its lowest point this month. The weekly chart indicates a bullish trend for Litecoin, with potential for further gains if it breaks above key resistance levels.



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