Approval of Litecoin ETF Follows FOMC Meeting

The $DOGE , $TRUMP , and $MELANIA ETFs are just a few of the altcoin ETFs that have been proposed by various fund managers to the SEC.

Unfortunately, Canary Capital's Litecoin ETF ($LTC ETF) was the only application that was approved. As expected, the regulator has turned down every other ETF proposal, leaving just $LTC$ as an alternative cryptocurrency to $ETH$ that has been approved.

What makes LTC special? If Bitcoin ($BTC) is the "digital gold," then LTC is the "digital silver" that complements it. Since it is a Bitcoin split, there are several technological and tokenomics parallels.
In any case, the fact that Canary Capital establishes altcoins as a legitimate asset class by institutional investors bodes well for the sector as a whole.

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A Market Turning Point: The Litecoin ETF

The SEC seems to have reversed its position on altcoins, although it has maintained its skepticism over meme currencies.

Because of this, additional cryptocurrency exchange-traded funds (ETFs) may emerge in the future, increasing acceptance and extending the present bull run.

But before you put your money into cryptocurrencies, DYOR. Returns are not guaranteed, even in the presence of solid fundamentals and good market circumstances.