The post BTC hovers at $98K, while ADA and LTC surge over 14% amid ETF launch news appeared on BitcoinEthereumNews.com.

The recent announcement from the Wall Street asset management firm Grayscale about its filing for a spot ADA exchange-traded product has triggered a bullish momentum among multiple coins, including BTC, ADA, SOL, LTC, and XRP. The NYSE Arca submitted the filing to the U.S. SEC on Monday, proposing to list and trade spot Cardano ETF shares on the exchange.  The filing also suggested a rule change that would allow the listing to increase market competition related to ADA investment products while providing consumers with more investment options. If the commission approves the spot ADA ETF, it will be the asset management firm’s first standalone Cardano product. Recently, the commission allowed Grayscale to convert its Solana Trust into a spot SOL ETF. The ETF announcements have currently boosted ADA’s price by over 13% over the past 24 hours, trading at about $0.7972 at the time of writing. The coin’s 24-hour trading volume has also surged by over 70%, reaching above $1.3 billion at the time of writing. The coin’s price is still over 74% lower than its all-time high of $3.10 recorded in 2021.  Litecoin has also surged by nearly 10% in the past 24 hours, hitting $127.56 at the time of writing. BTC surged by over 0.25% to about $98,050, while XRP gained over 2.4% to $2.49. Other coins, such as BNB, SUI, DOGE, SHIB, and ETH, have also gained over 5%, 9%, 5.2%, 1.52%, and 1.55%, respectively. Despite the bullish trend of other altcoins, SOL is still down over 1% in the past 24 hours.  Analysts speculate the altseason could be close Crypto analysts speculate that the altcoin season might be close, pointing out that coins are nearing the bullish crossover for 2025. Crypto Rover highlighted that the last time altcoins had the crossover was in 2021, leading to…

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Filed under: News - @ February 11, 2025 3:25 pm