As altcoin ETF applications increase following Donald Trump’s victory, expectations that the new SEC administration will approve these applications also increase.
At this point, Nasdaq has filed Forms 19b-4 with the US SEC for CoinShares’ XRP ($2.42) and Litecoin ETFs. If the SEC approves the application, shares of the ETF will be able to be traded on Nasdaq.
This development strengthens expectations that Litecoin may receive spot ETF approval, while Bloomberg analysts state that Litecoin is the strongest candidate for spot ETF approval after Bitcoin and Ethereum.
Analysts state that they base these predictions on the fact that Litecoin is similar to Bitcoin and is not classified as a security anywhere.
While Litecoin (LTC ($119.33)) is a faster and lower-cost alternative to Bitcoin, and XRP is notable for its use in payment systems and digital financial transactions, these Litecoin and XRP ETFs are expected to offer a great opportunity for crypto investors. As two important assets, XRP and LTC ETFs are also expected to start a new era in the market.
While CoinShares’ Litecoin and XRP ETF application attracted attention at the end of January, Grayscale’s move to convert its Litecoin Trust into a spot ETF on February 7 also made a big splash.
Litecoin, which is among the top 20 cryptocurrencies by market value, continues to be traded at $117, with an increase of 10.6 percent in the last 24 hours.
*This is not investment advice.
Continue Reading: These Two Altcoins Are One Step Closer to Spot ETF! Official Application from Nasdaq!
