Summary
- James Seyffart, a Bloomberg ETF analyst, reported that Litecoin (LTC) has a high possibility of being approved as the next spot ETF.
- The U.S. SEC has not classified Litecoin as a security, which is considered a positive factor for the launch of a Litecoin spot ETF.
- Ripple is in a legal battle with the SEC, and the uncertainty of the lawsuit could affect the approval of Ripple's spot ETF.
Following Bitcoin (BTC) and Ethereum (ETH), there is a growing expectation that Litecoin (LTC) might be the next cryptocurrency to receive approval for a spot exchange-traded fund (ETF).
On the 31st (local time), James Seyffart, a Bloomberg ETF analyst, stated in an interview with Forbes, "The U.S. Securities and Exchange Commission (SEC) has never classified Litecoin as a security," adding, "A Litecoin spot ETF might be launched first."
He added, "Ripple is currently engaged in a legal battle with the SEC over its security status, and it remains uncertain when this lawsuit will conclude."
On the other hand, Ripple has a different stance. Monica Long, President of Ripple, previously predicted in an interview with Bloomberg that "Ripple's spot ETF will be approved very quickly."
Doohyun Hwang
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