Crypto currency investors are thinking that the next ETF approval will be for Ether, but we might see a surprise here. Recent developments confirm that there are cryptos other than BTC that are considered distinct commodity types. Eleanor from Fox shared exciting new rumors about LTC.
The Future of Litecoin (LTC)
The CFTC stated in the Kucoin case that both Ethereum and Litecoin are commodities. If there is no objection from the CFTC regarding Coinbase’s derivative product by April 1st, LTC, DOGE, and BCH will officially be stamped as commodities. This implies that LTC prices could rise even more in the upcoming weeks.
What’s causing even more excitement among investors is a share made by Eleanor Terrett. She wrote a few minutes ago;
“I’m hearing rumors about possible institutional interest in a Litecoin ETF. The logic is that due to LTC’s functional similarities to BTC, the SEC might be even more inclined to approve it, possibly even more so than ETH.
Last week’s application related to Coinbase Derivatives is also significant.”
LTC continues the day at $93 and has not experienced the expected increase following this news.
