Litecoin Surges 10% Bucking Bitcoin, Ethereum Drop: Awaits Spot ETF Approval - LTC Properties (NYSE:LTC)

Core Insights - Litecoin (LTC) experienced a significant rally, increasing over 10% to reach $131, marking its highest price in nearly eight months [2] - The trading volume for LTC surged by 143% to $1.66 billion, making it one of the most actively traded cryptocurrencies in the last 24 hours [2] - LTC outperformed major cryptocurrencies like Bitcoin and Ethereum, which saw declines of 0.52% and 1.87%, respectively [2] Market Activity - The speculative market for LTC saw open interest in futures rise by 25% to $1.21 billion, indicating increased investor interest [3] - The rally is driven by anticipation surrounding the approval of a spot exchange-traded fund (ETF) that would allow investors to gain exposure to LTC price movements [3] ETF Developments - Major asset management firms, including Grayscale, CoinShares, and Canary Capital, are competing to introduce a $10 billion Litecoin ETF to the market [4] - The Canary Litecoin ETF missed its October 2 deadline due to a government shutdown, but an updated registration statement was filed recently, suggesting progress towards approval [4] - Analyst Eric Balchunas noted that the recent updates are typically the final steps before the ETF's launch [4] Price Performance - As of the latest data, LTC was trading at $130.27, reflecting a 10.12% increase in the last 24 hours and a year-to-date rally of 26% [4]