The founder of Litecoin, Charlie Lee, is certain the SEC will grant admission of a Litecoin (LTC) ETF for trading in the U.S. securities markets. Lee believed this would only be a matter of time.
Charlie Lee’s confidence may be coming from the recent launch of ETFs today, April 30 for both Bitcoin and Ethereum on the Hong Kong stock exchange.
Lee considered Litecoin the same as Bitcoin, which currently has a spot ETF trading on the US securities market after receiving regulatory authorization from the SEC years ago. As stated by Lee, Litecoin, like Bitcoin, is also a proof-of-work cryptocurrency, hence applying the same classification of Bitcoin as a commodity could be used to classify LTC. This way, Litecoin could be compatible with a Bitcocin-like ETF that is spot on in nature.
Lee ascertains that a Lite-coin ETF may be possible, but the demand for it could be possibly not as strong as Bitcoin ETFs.Ethereum spot ETFs are more preferred than LTC by the public, but he believes that Ethereum’s switch to PoS will create regulatory hurdles as well.
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