With the SEC’s recent changing stance, an altcoin founder is expecting spot ETF approval soon.
Litecoin (LTC) founder Charlie Lee revealed in an interview that he expects a spot Litecoin ETF (exchange-traded fund) to launch soon.
Lee based his expectation on the US Securities and Exchange Commission (SEC) approving universal listing standards for cryptocurrency ETFs and Litecoin being accepted as one of the 10 assets that meet these standards.
Lee assessed Litecoin’s position within the new regulatory framework, arguing that the SEC’s decision would expedite the approval process. “I expect the Litecoin ETF to launch very soon,” he said. “This will provide a very easy way for people to passively access Litecoin.”
Lee also highlighted the approval process of one of the ETF applications in which he was an investor, and said that a similar development to the successful launches of the Bitcoin and Ethereum ETFs will also occur for Litecoin.
There are multiple final deadlines for the SEC to decide on this week for the XRP, Dogecoin, Solana, Cardano, and Litecoin ETFs, but universal listing standards allow for the ETFs to launch without requiring SEC approval.
