Following the approval of spot Bitcoin ETFs in the USA in January, spot BTC and Ethereum ETFs were launched in Hong Kong yesterday.
After BTC and ETH ETFs, spot ETF possibilities for different altcoins were also discussed in the market, and the most talked about altcoins were XRP and Litecoin (LTC).
Last March, Fox Business reporter Eleanor Terrett shared in her post that institutional investors showed interest in the Litecoin ETF.
While the possibility of LTC ETF continued to be discussed after this news, the last evaluation came from Litecoin founder Charlie Lee.
In an interview, Litecoin's founder said that he is confident that the SEC will allow LTC ETFs in the US, but it will take some more time.
Drawing attention to the similarities between Litecoin and Bitcoin at this point, Lee argued that Litecoin's adoption of proof of work and commodity-like nature make it a prime candidate for a spot ETF.
“There are great similarities between Bitcoin and Litecoin, and these features make LTC an important candidate for a spot ETF.
“Demand for LTC ETFs may not be the same as demand for BTC ETFs at first, but as the cryptocurrency market continues to mature, investors will realize Litecoin's superior value and growth potential.”
“It's Difficult for Ethereum ETFs to Get Approval from the SEC!”
Finally, touching on Ethereum spot ETFs, the Litecoin founder thinks that ETH ETF may see more demand compared to LTC.
However, Lee believes it is more difficult for ETH ETFs to gain approval from the SEC.
Litecoin creator @Satoshilite optimistic about the prospect of a #Litecoin Exchange-Traded Fund (ETF)https://t.co/ArgUzfunO8
— Litecoin (@litecoin) April 30, 2024
*This is not investment advice.
