Crypto bettors on Polymarket, a decentralized prediction market, have placed an 87% probability on the US Securities and Exchange Commission (SEC) approving a Litecoin-based exchange-traded fund (ETF) this year.

Optimism surged after the SEC initiated a public comment phase for the proposed Canary Litecoin ETF.

According to the agency’s Jan. 29 filing, the public has 21 days from the document’s publication in the Federal Register to provide feedback. These responses will influence the regulator’s decision to approve the fund.