The new SEC chairman Paul Atkins is about to take office. Could the Litecoin ETF be the strongest contender?

In previous years, the time from the nomination of the SEC chairman to taking office has been 2 months. Paul Atkins, who was nominated by Trump last December, should also be close to taking office. This pro-cryptocurrency man has had many experiences related to cryptocurrency, including his speech at the Cardano summit in 2020 and serving as an advisor for some cryptocurrencies.

The following chart shows the 6 altcoin ETFs with a higher probability of approval. Among them, the most cost-effective ETF is Litecoin, which has had applications submitted by 3 traditional institutions and has a market cap of only 6.6 billion. The probability of approval has risen to 90%, and once approved, it will surely cause significant fluctuations in the market.

The chart also lists which traditional financial institutions are involved in each ETF, with Grayscale @Grayscale occupying most of the application positions.

All participating traditional institutions: @Grayscale, @BitwiseInvest, @vaneck_us, @21Shares, Canary Capital, @CoinSharesCo, @WisdomTreeFunds, Rex

Note: The “probability of approval” in the chart comes from Bloomberg analysts.