Charlie Lee, the founder of Litecoin, is certain the SEC will approve the listing of a Litecoin (LTC) exchange-traded fund (ETF) so it may be traded on American stock exchanges. Lee thought that this would happen eventually.
Charlie Lee’s assurance could stem from the recent introduction of ETFs for Ethereum and Bitcoin on the Hong Kong stock exchange today, April 30.
Lee determines that while an ETF for Litecoin would be feasible, demand for it might not be as high as that for Bitcoin ETFs.The public prefers Ethereum spot ETFs over LTC, but he thinks that Ethereum’s move to proof-of-stake will also provide regulatory challenges.
Lee compared Litecoin to Bitcoin, which is presently trading as a spot ETF on the US securities market following years of SEC regulatory approval. According to Lee, since Litecoin and Bitcoin are both proof-of-work cryptocurrencycurrencies, LTC could be categorized as a commodity using the same criteria as Bitcoin. In this manner, Litecoin might work with an ETF that is just like Bitcocin.
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