Con Paul Atkins already confirmed as president of the Bag and Securities Commission (SEC) American, cryptocurrencies begin to «breathe relieved.»
As cryptootics has reported it, Atkins is a favorable character to the cryptocurrency industry. Therefore, it can be taken for granted that the «persecution» of the SC towards this market niche in the United States is finished.
It can be assumed, then, that several ETF launch requests from Altcoins would be close to approve. James Seyffart and Eric Balchunas, Senior analysts of Bloomberg Intelligence, are convinced that Litecoin (LTC) will be the next cryptocurrency in having an ETF in cash in the United States. Until now, Bitcoin only (BTC) and Ether (ETH) have that privilege.
According to Mike Fay, market analyst, «The ETF from Litecoin in cash could be weeks after its launch».
Fay explains that «the approval of the ETF al Litecoin seems likely, and analysts give high probabilities.» In addition, it bases its expectation by mentioning that «the ETF of Canary Capital is in a state of ‘pre -zamiento’ according to the DTCC website».
Until now, Canary Capital, Grayscale and Coinshares companies have submitted authorization requests to launch ETF of Litecoin.
Fay thinks that The arrival of the ETF will be positive for the price of Litecoin. According to its particular vision, LTC has advantages over BTC and the ETFs will only make them emphasize and further recognize these advantages:
«Many in the sector argue that Bitcoin can do virtually anything. BTC is considered ‘digital gold’ and any end user payment for small transactions can be done simply in secondary climbing layers. Therefore, LTC is not necessary. However, after more than 13 years in the market, Litecoin still has a market capitalization of almost 6,000 million dollars and occupies the 21st position for a currency that some consider totally obsolete, this is an impressive permanence, in my opinion.
Mike Fay, market analyst.
For this reason, this analyst who is an author in several specialized newsletters, describes Litecoin as «a discreetly important asset in the cryptocurrency market.»
For Fay, when the ETFs are approved «the time to buy Litecoin with a discount will have finished.» That is why he thinks that buy LTCN (the Litecoin Investment Fund in Grayscale) now «could be a good arbitration investment to a possible conversion to ETF.»
It is worth clarifying that The existence of ETF of a cryptocurrency is not a guarantee of price increases. An example of this is ETH, which despite having several ETFs in the US market, has not yet managed to overcome its maximum historical price achieved in 2021.