Litecoin’s high prices on rumors about ETF’s possible approval

Books encryption on PolymarketDecentralized prediction market, 87 % mode probability The US Securities and Stock Exchange Committee (SEC) must approve a LitecoinETF this year.

Optimism increased after SEC started the general suspension of Canary Litecoin ETF proposed.

According to the agency, January 29 presentationThe audience has 21 days of the document’s publication in the federal registry to make notes. These responses will affect the organizer’s decision to agree to the fund.

After the suspension period, SEC has up to 45 days to issue a decision, although this time frame can extend 90 days if necessary. The organizer must agree, reject it or start a more detailed review process to determine the fate of ETF.

Litecoin etf offers

Market observers have indicated that SEC’s association with ETF Litecoin indicates a potential transformation of its approach to encryption -based investment products.

Bloomberg analyst ETF Erik Balunas He pointed out that this is the first altcoin etf that reaches this stage, indicating a meaningful progress in the approval process. However, whether the Securities and Stock Exchange will accelerate its decision or take the full review period for 240 unconfirmed days.

he books:

“[The] The first altcoin 19B-4 to be recognized, the rest of the clouds were said by Genz Sec Throw the comments from the Supreme Education Council on the S-1, and this deposit is much farthest along the verification of all boxes. [The question] Now will this Supreme Education Council wait 240 days or agree to it more quickly? “

In the past, under former SEC president Gary Ginsler, the agency was delayed approvals on Crypto ETF, and decisions often pay the deadline.

Since the departure of Jinsler, the organizational environment has changed. Acting chair Mark Oida Take a more open position on the financial products related to the encryption, encouraging A wave of ETF applications For origins outside bitcoin, including Xrpand SolanaAnd even Memecoins like Trump.

LTC Marches

Speculations related to ETF approval led to a strong gathering in the price of Litecoin and improved network activity.

Cryptoslate Data LTC appears climbing 14 % in the past 24 hours and 15 % during the past week, reaching $ 128 at the time of writing this report. This makes it the best assets among the best 20 encrypted currencies according to the market value during this period.

Blockchain Intotheblock Indicate The scales on the series indicate a high user activity and network strength. According to the company, Litecoin is currently 8.1 million titles and an average of 350,000 users per day daily, exceeding networks such as Cardano and Collapse In participation.

In addition, retailers carry more than half of all LTC in trading, which reflects the base of strong users at the base level.

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