Increasing confidence in the approval of a spot Litcoin ETF has increased the blockchain activity in daily transactions by about $ 10 billion.
LiteCoin (LTC) processed more than $ 9.6 billion daily between 15 February and 21 February, as the US Securities and Exchange Commission increased the possibility of approving a spot LTC exchange-traded funds.
Sentimen data showed a boom in the user activity, fuel by “clear growing stimulation” for a Litcoin ETF. Daily transactions have increased by 243% in the last five months, which coincides with a spot LTC ETF with SEC in October of Canary Capital.
Additional applications from issuers such as grayscale and coinshares have further strengthened the speed of network. According to the Santime, LTC market capitalization increased by 46% between February 1 and February 19.
Wrapping digital assets in ETF enables investors to obtain crypto exposure through the markets similar to stock trading. It also eliminates the need to manage private keys or purse, enter the crypto access and reduce technical obstacles to expand.
The issuers had an eye on an extended Crypto ETF suit on Wall Street, 13 months after the introduction of spot bitcoin (BTC) products.
President Donald Trump’s pro-crypto agenda opened doors for widespread adoption as his administration improved agencies like SEC and changed doubts like Gary Gainser.
Money managers have sought permission to list LTC, (XRP), Solana (SOL), and Dogecoin (DOGE) funds. However, analysts stated that Litcoin had the most approval opportunities. Bloomberg experts have seen a 90% possibility that SEC will approve a spot LTC ETF.
Canary Capital’s filing would probably be the first Litcoin Fund out of the gate, as it was the first issuer to record its S -1 documents. The SEC has also started reviewing all pending spot LTC funds.
