{"id":25848,"date":"2025-08-05T17:17:00","date_gmt":"2025-08-05T14:17:00","guid":{"rendered":"https:\/\/forklog.com\/en\/mei-pharma-acquires-110-million-in-litecoin\/"},"modified":"2025-08-05T17:17:00","modified_gmt":"2025-08-05T14:17:00","slug":"mei-pharma-acquires-110-million-in-litecoin","status":"publish","type":"post","link":"https:\/\/forklog.com\/en\/mei-pharma-acquires-110-million-in-litecoin\/","title":{"rendered":"MEI Pharma Acquires $110 Million in Litecoin"},"content":{"rendered":"<p>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 <a href=\"https:\/\/www.businesswire.com\/news\/home\/20250805082856\/en\/MEI-Pharma-Acquires-Litecoin-Launches-%24100M-Institutional-Treasury-Strategy-with-Charlie-Lee-and-GSR-Advising\">press release<\/a>.<\/p>\n<p><!--more--><\/p>\n<p>The initiative was implemented in collaboration with the GSR fund and involved Charlie Lee, the creator of Litecoin and a member of MEI&#8217;s board of directors. The company views cryptocurrency as a long-term store of value.<\/p>\n<blockquote class=\"wp-block-quote is-layout-flow wp-block-quote-is-layout-flow\">\n<p>\u201cLitecoin has long epitomized stable, scalable, and decentralized money. MEI&#8217;s strategy confirms its status as a reserve asset and a component of the global financial infrastructure,\u201d said Lee.<\/p>\n<\/blockquote>\n<h2 class=\"wp-block-heading\">Prospects for LTC-ETF Approval Increase<\/h2>\n<p>On July 30, Bloomberg analyst Eric Balchunas published a list of cryptocurrencies that could see ETF launches as early as September-October, including Litecoin.<\/p>\n<blockquote class=\"twitter-tweet\">\n<p lang=\"en\" dir=\"ltr\">The SEC&#8217;s &#8220;Listing Standards&#8221; for crypto ETPs is out via new exchange filing. BOTTOM LINE: Any coin that has futures tracking it for >6mo on Coinbase&#8217;s derivatives exchange would be approved (below is list). It&#8217;s about a dozen of the usual suspects, the same ones we had at 85% or\u2026 <a href=\"https:\/\/t.co\/QlzZnta7Yv\">https:\/\/t.co\/QlzZnta7Yv<\/a> <a href=\"https:\/\/t.co\/CmBr8XxAcM\">pic.twitter.com\/CmBr8XxAcM<\/a><\/p>\n<p>\u2014 Eric Balchunas (@EricBalchunas) <a href=\"https:\/\/twitter.com\/EricBalchunas\/status\/1950650033403244602?ref_src=twsrc%5Etfw\">July 30, 2025<\/a><\/p><\/blockquote>\n<p> <script async src=\"https:\/\/platform.twitter.com\/widgets.js\" charset=\"utf-8\"><\/script><\/p>\n<blockquote class=\"wp-block-quote is-layout-flow wp-block-quote-is-layout-flow\">\n<p>\u201cAny coin with futures on Coinbase&#8217;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,\u201d the expert wrote.<\/p>\n<\/blockquote>\n<p>Balchunas and his colleague James Seyffart are also <a href=\"https:\/\/forklog.com\/en\/news\/experts-see-high-chances-for-approval-of-etfs-based-on-ltc-sol-xrp-and-doge\">confident<\/a> in classifying Litecoin as a \u201ccommodity\u201d rather than a \u201csecurity.\u201d In their view, this provides the cryptocurrency with additional advantages.\u00a0<\/p>\n<p>On Polymarket, the odds of an LTC-ETF being approved by the end of 2025 have risen to 81%.<\/p>\n<figure class=\"wp-block-image size-large\"><img loading=\"lazy\" decoding=\"async\" width=\"1024\" height=\"560\" src=\"https:\/\/forklog.com\/wp-content\/uploads\/image2-392-1024x560.png\" alt=\"image2\" class=\"wp-image-263326\" srcset=\"https:\/\/forklog.com\/wp-content\/uploads\/image2-392-1024x560.png 1024w, https:\/\/forklog.com\/wp-content\/uploads\/image2-392-300x164.png 300w, https:\/\/forklog.com\/wp-content\/uploads\/image2-392-768x420.png 768w, https:\/\/forklog.com\/wp-content\/uploads\/image2-392-1536x839.png 1536w, https:\/\/forklog.com\/wp-content\/uploads\/image2-392.png 1958w\" sizes=\"auto, (max-width: 1024px) 100vw, 1024px\" \/><figcaption class=\"wp-element-caption\">Source: <a href=\"https:\/\/polymarket.com\/event\/litecoin-etf-approved-in-2025?tid=1754400377393\">Polymarket<\/a>.<\/figcaption><\/figure>\n<h2 class=\"wp-block-heading\">Litecoin Price Movements<\/h2>\n<p>In the past 24 hours, the price of LTC has risen by 6%, according to <a href=\"https:\/\/www.coingecko.com\/ru\/%D0%9A%D1%80%D0%B8%D0%BF%D1%82%D0%BE%D0%B2%D0%B0%D0%BB%D1%8E%D1%82%D1%8B\/%D0%9B%D0%B0%D0%B9%D1%82%D0%BA%D0%BE%D0%B8%D0%BD\">CoinGecko<\/a>. At the time of writing, the cryptocurrency is trading at $123.69.<\/p>\n<figure class=\"wp-block-image size-large\"><img loading=\"lazy\" decoding=\"async\" width=\"1024\" height=\"602\" src=\"https:\/\/forklog.com\/wp-content\/uploads\/image1-647-1024x602.png\" alt=\"image1\" class=\"wp-image-263327\" srcset=\"https:\/\/forklog.com\/wp-content\/uploads\/image1-647-1024x602.png 1024w, https:\/\/forklog.com\/wp-content\/uploads\/image1-647-300x176.png 300w, https:\/\/forklog.com\/wp-content\/uploads\/image1-647-768x452.png 768w, https:\/\/forklog.com\/wp-content\/uploads\/image1-647-1536x904.png 1536w, https:\/\/forklog.com\/wp-content\/uploads\/image1-647.png 1999w\" sizes=\"auto, (max-width: 1024px) 100vw, 1024px\" \/><figcaption class=\"wp-element-caption\">Hourly chart of LTC\/USDT on Binance. Source: <a href=\"https:\/\/ru.tradingview.com\/chart\/?symbol=BINANCE%3ALTCUSDT\">TradingView<\/a>.<\/figcaption><\/figure>\n<p>According to crypto analyst known as Rain, the next target for Litecoin is $150. He believes that \u201cthe time to return to all-time highs is near.\u201d<\/p>\n<blockquote class=\"twitter-tweet\">\n<p lang=\"en\" dir=\"ltr\">Litecoin has been on a strong rise since April.<\/p>\n<p>Now trading above $120 at a critical level. $150 is the nearest target, with big moves likely to come. Volume and momentum pick up<a href=\"https:\/\/twitter.com\/search?q=%24LTC&#038;src=ctag&#038;ref_src=twsrc%5Etfw\">$LTC<\/a> is showing more strength than many altcoins.<\/p>\n<p>Time to return to all time highs is near. <a href=\"https:\/\/t.co\/uPsHWfTLb1\">pic.twitter.com\/uPsHWfTLb1<\/a><\/p>\n<p>\u2014 Rain (@raintures) <a href=\"https:\/\/twitter.com\/raintures\/status\/1952575991412367478?ref_src=twsrc%5Etfw\">August 5, 2025<\/a><\/p><\/blockquote>\n<p> <script async src=\"https:\/\/platform.twitter.com\/widgets.js\" charset=\"utf-8\"><\/script><\/p>\n<p>Another expert, under the pseudonym Crypto Dias, <a href=\"https:\/\/x.com\/cryptodioss\/status\/1952634599927918869\">pointed out<\/a> that LTC is currently \u201cdemonstrating the same pattern as before its fivefold growth in 2020.\u201d He also predicted that the cryptocurrency will soon reach a new <span data-descr=\"all-time high\" class=\"old_tooltip\">ATH<\/span>.<\/p>\n<p>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%.<\/p>\n<p>Back on January 21, the proposed spot Litecoin-ETF by Canary Capital <a href=\"https:\/\/forklog.com\/en\/news\/dtcc-lists-canary-capitals-spot-litecoin-etf\">appeared<\/a> on the list of assets by <span data-descr=\"a company that provides post-trade, clearing, and settlement services\" class=\"old_tooltip\">DTCC<\/span>.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>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.<\/p>\n","protected":false},"author":1,"featured_media":25847,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"select":"","news_style_id":"","cryptorium_level":"","_short_excerpt_text":"","creation_source":"","_metatest_mainpost_news_update":false,"footnotes":""},"categories":[3],"tags":[569,209,1148],"class_list":["post-25848","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news-and-analysis","tag-etf","tag-litecoin","tag-polymarket"],"aioseo_notices":[],"amp_enabled":true,"views":"31","promo_type":"","layout_type":"","short_excerpt":"","is_update":"","_links":{"self":[{"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/posts\/25848","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/comments?post=25848"}],"version-history":[{"count":0,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/posts\/25848\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/media\/25847"}],"wp:attachment":[{"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/media?parent=25848"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/categories?post=25848"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/tags?post=25848"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}