Litecoin Founder Bullish on SEC Approval of LTC ETF

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As an experienced analyst, I have closely followed the development of cryptocurrencies and their regulatory frameworks for several years. While Charlie Lee’s confidence in a Litecoin ETF being approved by the SEC is understandable, given the recent success of Bitcoin and Ethereum ETFs on the Hong Kong stock exchange, I remain cautious.

As an analyst, I’m confidently reporting that Charlie Lee, the founder of Litecoin, firmly believes that the SEC will eventually approve a Litecoin Exchange-Traded Fund (ETF) for trading in U.S. securities markets. According to Lee’s perspective, this is merely a matter of passing time.

As a researcher studying the cryptocurrency market, I’m excited about the potential development of a Litecoin Exchange-Traded Fund (ETF). The creator of Litecoin, @Satoshilite, has expressed optimism regarding this possibility.

— Litecoin (@litecoin) April 30, 2024

Charlie Lee’s self-assurance could stem from the recent debut of Bitcoin and Ethereum Exchange-Traded Funds (ETFs) on the Hong Kong stock exchange, which took place on April 30.

Lee viewed Litecoin and Bitcoin as equivalent, given that Bitcoin has a spot Exchange-Traded Fund (ETF) available on the US securities market following years of SEC approval. Both Litecoin and Bitcoin operate under the proof-of-work consensus mechanism, implying that the commodity classification for Bitcoin could also be applicable to Litecoin. Consequently, Litecoin would become eligible for a Bitcoin-like ETF that is spot trading in its essence.

Lee expresses his belief that a Litecoin Exchange-Traded Fund (ETF) could be feasible, yet the desire for it might not match that of Bitcoin ETFs. Furthermore, the manufacturer points out that Ethereum spot ETFs are more popular among the public than Litecoin. However, he anticipates that Ethereum’s transition to Proof of Stake (PoS) may present regulatory challenges as well.

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2024-05-01 02:44