$LTC Recently, LTC's spot ETF application has made key progress. The LTC spot ETF with the code LTCC has been officially registered with the US Securities Depository and Clearing Corporation DTCC, which is a very important progress. Because the BTC and ETH spot ETFs completed the DTCC registration step before the SEC approved them last year, this step is usually regarded as a key precursor to the listing of ETFs, so the possibility of LTC spot ETF approval has greatly increased.
Bloomberg ETF senior analyst Eric tweeted that the probability of LTCC listing is as high as 90%, and said that the issuer is ready to start trading at the right time. On the decentralized prediction market platform Polymarket, it is expected that the probability of LTC spot ETF being approved by the SEC this year is as high as 85%.
From the above points, the listing of LTC spot ETF is almost a foregone conclusion, and it will become the third cryptocurrency ETF in the United States. Affected by this news, the daily transaction volume of LTC on the chain has reached 9.6 billion US dollars in the past week. In August last year, the on-chain transaction volume of LTC was only 2.8 billion US dollars. In just a few months, the on-chain transaction volume of LTC has increased by 242%. The approval of LTC spot ETF will also increase the market's confidence in altcoins and may trigger a new round of capital inflows.
If the LTC spot ETF is successfully listed, the future approval probability of other spot ETFs currently applying for XRP, SOL, ADA, and DOGE will also be greatly increased. Perhaps the launch of this year's altcoin season will be initiated by the approval of the spot ETFs of these altcoins😄
