The prospect of a spot Litecoin ETF has significantly boosted blockchain activity, reaching nearly $10 billion in daily transactions.
Rise in Litecoin Transactions
Between February 15 and 21, the Litecoin network processed over $9.6 billion in daily volume, coinciding with increased confidence in SEC approval of a spot LTC ETF.
Role of SEC and ETF Applications
Santiment data shows a surge in user activity driven by ETF approval expectations. Canary Capital filed for a spot ETF with additional applications from Grayscale and CoinShares boosting market momentum. LTC's market capitalization surged 46% in early February.
Prospects for Future Funds
Wrapping digital assets in ETFs provides investors with access to cryptocurrencies through regulated markets. Analysts predict Litecoin has the best chance of approval, with Bloomberg experts citing a 90% chance. Canary Capital's filing may be the first recognized by the SEC.
Rising confidence in Litecoin ETF approval not only boosts network activity but also opens new opportunities for investors in traditional markets.
