MEI Pharma Acquires $110 Million in Litecoin

MEI Pharma has become the first publicly traded company in the United States to announce the establishment of a Litecoin reserve. The pharmaceutical firm acquired 929,548 LTC for $110.4 million, according to a press release.

The initiative was implemented in collaboration with the GSR fund and involved Charlie Lee, the creator of Litecoin and a member of MEI’s board of directors. The company views cryptocurrency as a long-term store of value.

“Litecoin has long epitomized stable, scalable, and decentralized money. MEI’s strategy confirms its status as a reserve asset and a component of the global financial infrastructure,” said Lee.

Prospects for LTC-ETF Approval Increase

On July 30, Bloomberg analyst Eric Balchunas published a list of cryptocurrencies that could see ETF launches as early as September-October, including Litecoin.

The SEC’s “Listing Standards” for crypto ETPs is out via new exchange filing. BOTTOM LINE: Any coin that has futures tracking it for >6mo on Coinbase’s derivatives exchange would be approved (below is list). It’s about a dozen of the usual suspects, the same ones we had at 85% or… https://t.co/QlzZnta7Yv pic.twitter.com/CmBr8XxAcM

— Eric Balchunas (@EricBalchunas) July 30, 2025

“Any coin with futures on Coinbase’s derivatives exchange for more than six months will be approved. This includes about 12 tokens, which we already gave an 85%+ chance of approval. The question now is timing,” the expert wrote.

Balchunas and his colleague James Seyffart are also confident in classifying Litecoin as a “commodity” rather than a “security.” In their view, this provides the cryptocurrency with additional advantages. 

On Polymarket, the odds of an LTC-ETF being approved by the end of 2025 have risen to 81%.

Litecoin Price Movements

In the past 24 hours, the price of LTC has risen by 6%, according to CoinGecko. At the time of writing, the cryptocurrency is trading at $123.69.

According to crypto analyst known as Rain, the next target for Litecoin is $150. He believes that “the time to return to all-time highs is near.”

Litecoin has been on a strong rise since April.

Now trading above $120 at a critical level. $150 is the nearest target, with big moves likely to come. Volume and momentum pick up$LTC is showing more strength than many altcoins.

Time to return to all time highs is near. pic.twitter.com/uPsHWfTLb1

— Rain (@raintures) August 5, 2025

Another expert, under the pseudonym Crypto Dias, pointed out that LTC is currently “demonstrating the same pattern as before its fivefold growth in 2020.” He also predicted that the cryptocurrency will soon reach a new ATH.

The crypto asset reached its peak on May 10, 2021, when its market price climbed to $410.26. Since then, the figure has decreased by 69.9%.

Back on January 21, the proposed spot Litecoin-ETF by Canary Capital appeared on the list of assets by DTCC.