From February 15 to February 21, the daily transaction volume on the blockchain Litecoin exceeded $9,6 billion. This figure is growing, as crypto market participants are confident that the US Securities and Exchange Commission (SEC) is increasingly inclined to approve an exchange-traded fund based on LTC.
Data from the Santiment platform indicates a surge in user activity amid the excitement around Litecoin - ETF . Daily transactions have increased by 243% over the past five months, coinciding with Canary Capital's bid for spot LTC- ETF in October 2024. Later filings from Grayscale and CoinShares further strengthened the bullish sentiment among crypto community members.
According to Santiment, the market capitalization of the LTC cryptocurrency has grown by 46% between February 1 and February 19. At the time of writing, Altcoyin was trading at $126.
Exchange Traded Fund Litecoin from Canary Capital is likely to be the first to hit the market, as it was the investment firm that was the first to file an application with the SEC.
The launch of cryptocurrency exchange-traded funds allows investors to gain access to digital assets through regulated markets similar to stock trading, without the need for a crypto wallet.
