Litecoin (LTC), a cryptocurrency created based mostly on the Bitcoin protocol, recorded substantial features in anticipation of the approval of an exchange-traded fund based mostly on the cryptocurrency features momentum.
In response to CoinMarketCap worth knowledge, LTC soared practically 19% up to now day. Presently, the US Securities and Trade Fee (SEC) is evaluating the Canary Litecoin ETF and alluring public
feedback.
As the primary altcoin ETF to succeed in this stage, the
market expects it to set a precedent for future cryptocurrency funding
merchandise past Bitcoin and Ethereum . This growth has fueled optimism in
the crypto market, with Litecoin costs surging in response.
In response to a submitting dated January 29, 2025, the SEC
has initiated a 21-day public remark interval following the ETF proposal’s
publication within the Federal Register. This step adopted Nasdaq’s submission of a 19b-4
submitting on January 16, a crucial requirement within the approval course of for
exchange-traded merchandise.
First alt coin 19b-4 to be acknowledged, relaxation have been advised to withdraw by Genz SEC. Throw within the feedback from SEC on the S-1 and this submitting is by far the furthest alongside checking all of the packing containers. Q now’s will this SEC wait the complete 240 days or approve extra quickly. Unknown. https://t.co/iXwq9PkLGr
— Eric Balchunas (@EricBalchunas) January 29, 2025
Canary Capital’s Litecoin ETF is a part of a broader
push to introduce different cryptocurrency ETFs into the US market. Only a week earlier than this submitting, Canary additionally utilized
for an XRP-based ETF, demonstrating elevated curiosity in increasing
institutional crypto funding choices. Nasdaq’s involvement additional
strengthens the case for Litecoin’s ETF approval.
If granted, Nasdaq will act because the itemizing trade
for the funding product, positioning Litecoin as the primary altcoin past
Bitcoin and Ethereum to realize regulatory recognition within the ETF house.
Following the SEC’s acknowledgment of the ETF
software, Litecoin’s worth has skilled an upward momentum. In response to
CoinMarketCap knowledge, LTC soared 18% and 17% up to now day and week,
respectively, to commerce at $133.The technical worth indicators additionally present that
the digital asset has extra prospects for upside.
Optimistic Market Sentiment
In response to TradingView knowledge, the value has been consolidating above $108 since December 1. It’s now approaching the
$135 worth resistance stage, which has been examined twice since December 8.
Litecoin (LTC) Worth, Supply: CoinMarkerCap
LTC’s worth is at present above the 50 and 200 transferring averages, and the Relative Energy Index is at present 61. The SEC’s engagement
with the Litecoin ETF comes at a time when regulatory attitudes towards
cryptocurrencies look like shifting. Underneath the management of Appearing Chair Mark Uyeda, the
company has proven a willingness to discover a broader vary of crypto funding
merchandise.
A key transfer on this course was the current
appointment of Republican Commissioner Hester Peirce to steer a newly
established crypto process pressure. Peirce, recognized for her pro-crypto stance, has
been vocal in regards to the want for regulatory readability.
The SEC beforehand accredited spot Bitcoin ETFs in
January 2024, adopted by Ethereum ETFs later that 12 months. These approvals set a
basis for Litecoin’s present bid to enter the ETF market. The SEC has the
possibility to make use of the complete 240-day evaluate interval earlier than asserting a last ruling.
Litecoin (LTC), a cryptocurrency created based mostly on the Bitcoin protocol, recorded substantial features in anticipation of the approval of an exchange-traded fund based mostly on the cryptocurrency features momentum.
In response to CoinMarketCap worth knowledge, LTC soared practically 19% up to now day. Presently, the US Securities and Trade Fee (SEC) is evaluating the Canary Litecoin ETF and alluring public
feedback.
As the primary altcoin ETF to succeed in this stage, the
market expects it to set a precedent for future cryptocurrency funding
merchandise past Bitcoin and Ethereum . This growth has fueled optimism in
the crypto market, with Litecoin costs surging in response.
In response to a submitting dated January 29, 2025, the SEC
has initiated a 21-day public remark interval following the ETF proposal’s
publication within the Federal Register. This step adopted Nasdaq’s submission of a 19b-4
submitting on January 16, a crucial requirement within the approval course of for
exchange-traded merchandise.
First alt coin 19b-4 to be acknowledged, relaxation have been advised to withdraw by Genz SEC. Throw within the feedback from SEC on the S-1 and this submitting is by far the furthest alongside checking all of the packing containers. Q now’s will this SEC wait the complete 240 days or approve extra quickly. Unknown. https://t.co/iXwq9PkLGr
— Eric Balchunas (@EricBalchunas) January 29, 2025
Canary Capital’s Litecoin ETF is a part of a broader
push to introduce different cryptocurrency ETFs into the US market. Only a week earlier than this submitting, Canary additionally utilized
for an XRP-based ETF, demonstrating elevated curiosity in increasing
institutional crypto funding choices. Nasdaq’s involvement additional
strengthens the case for Litecoin’s ETF approval.
If granted, Nasdaq will act because the itemizing trade
for the funding product, positioning Litecoin as the primary altcoin past
Bitcoin and Ethereum to realize regulatory recognition within the ETF house.
Following the SEC’s acknowledgment of the ETF
software, Litecoin’s worth has skilled an upward momentum. In response to
CoinMarketCap knowledge, LTC soared 18% and 17% up to now day and week,
respectively, to commerce at $133.The technical worth indicators additionally present that
the digital asset has extra prospects for upside.
Optimistic Market Sentiment
In response to TradingView knowledge, the value has been consolidating above $108 since December 1. It’s now approaching the
$135 worth resistance stage, which has been examined twice since December 8.
Litecoin (LTC) Worth, Supply: CoinMarkerCap
LTC’s worth is at present above the 50 and 200 transferring averages, and the Relative Energy Index is at present 61. The SEC’s engagement
with the Litecoin ETF comes at a time when regulatory attitudes towards
cryptocurrencies look like shifting. Underneath the management of Appearing Chair Mark Uyeda, the
company has proven a willingness to discover a broader vary of crypto funding
merchandise.
A key transfer on this course was the current
appointment of Republican Commissioner Hester Peirce to steer a newly
established crypto process pressure. Peirce, recognized for her pro-crypto stance, has
been vocal in regards to the want for regulatory readability.
The SEC beforehand accredited spot Bitcoin ETFs in
January 2024, adopted by Ethereum ETFs later that 12 months. These approvals set a
basis for Litecoin’s present bid to enter the ETF market. The SEC has the
possibility to make use of the complete 240-day evaluate interval earlier than asserting a last ruling.
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