One of the more interesting academic theories to come about Loki is that he may have originated from the very long-standing folk myths of the Vötte (Swedish) / Ash Lad (Norway) / Vættir (Iceland). Widespread beliefs throughout Scandinavia of this liminal figure, a helpful but playful hearth- and land-spirit associated with fire, existed for hundreds of years before the Eddas. As such, it may have slowly been woven into the myths and perhaps even been influenced by Christian syncretic apocalyptic beliefs about Ragnarök.
I’ve posted a detailed research article at Mimir’s Well in the academic area for those interested. But what do you think about this theory? It’s certainly provocative!
I find it perfectly something to consider. Often times I feel like many forget there was a culture around before the limited Viking age, well before that.