From the current situation, the possibility of LTC (Litecoin) being approved through an ETF is relatively high. Here is a specific analysis:
- SOL (Solana): Five issuers have submitted applications for a SOL spot ETF, among which Grayscale's application has been accepted by the SEC. However, the SEC had previously classified SOL as a security in related cases, and although the current leadership of the SEC has changed, this historical designation may still impact the approval of the SOL ETF, leading to uncertainty in the approval process.
- LTC (Litecoin): Currently, Grayscale and Canary Capital have submitted applications for an LTC spot ETF, and the SEC has accepted both, now entering a 21-day public comment period. LTC is considered a Bitcoin fork and uses a proof-of-work consensus mechanism. The U.S. Securities and Exchange Commission has never classified Litecoin as a security, and Bloomberg analyst Eric Balchunas has also expressed confidence that Litecoin will become the next cryptocurrency spot ETF approved by the SEC.
- XRP (Ripple): Five institutions, including Grayscale and Bitwise, have applied for an XRP spot ETF. The Cboe BZX exchange submitted a 19b-4 filing on February 6 on behalf of some institutions. However, XRP is facing legal issues with the SEC, which poses significant obstacles to the approval process of its ETF. Until the legal issues are resolved, the likelihood of approval remains low.
