While Ethereum (ETH) is considered the favorite candidate for the next spot ETF approval, expectations are rising for another altcoin behind the scenes.
Following the approval of spot Bitcoin exchange-traded funds (ETF) by the U.S. Securities and Exchange Commission (SEC) in January, attention turned to Ethereum.
Despite creating a pessimistic atmosphere in the past, Ethereum remained the market’s favorite ETF candidate. However, FOX reporter Eleanor Terrett recently made a statement suggesting a different scenario.
In a post made by Eleanor Terrett on March 26th, it was mentioned that institutions’ expectations for a Litecoin (LTC) ETF have increased, and the name of Litecoin is more frequently heard in the corridors.
Emphasizing that Litecoin’s similar system to Bitcoin makes ETF expectations possible, the reporter stated that the possibility could be even higher than Ethereum’s:
There are rumors at the institutional level about possible interest in a Litecoin ETF. The logic is that due to similar functional aspects to Bitcoin, the SEC may be more likely to approve it. Probably even more so than Ethereum.
The U.S. Commodity Futures Trading Commission (CFTC), which recently filed a complaint against the cryptocurrency exchange KuCoin, classified Bitcoin, Ethereum, and Litecoin as commodities, creating a different excitement in the crypto market.
According to CoinGecko data, LTC, which was positively affected by this news flow, rose by 5.2% in the last 24 hours, climbing up to $97.7.
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