Hey Grayscale, Fidelity, Bitwise, Blackrock, VanEck, WisdomTree, CoinShares, Invesco US, Franklin Templeton! You've seen how Litecoin is gaining momentum, right?
It’s time to meet investor demand and tap into a growing market by leading with a Litecoin ETF. Let’s make it happen!
ICYMI:
Canary Capital filed for a spot Litecoin ETF in October 15 this year, becoming the first institution to apply for a Litecoin ETF.
Hashdex recently included Litecoin in “eligible cryptocurrencies” for newly filed Hashdex Nasdaq Crypto Index US ETF. While not guaranteed to be included in the index, only 5 cryptocurrencies made the initial cut. (Bitcoin, Ethereum, Avalanche, Chainlink, and Litecoin)
Clarity on the criteria to be eligible. (Reference chart 1-5):
Quick rundown on Litecoin:
Fast
Liquid
Scarce
Robust
Secure
Fungible
Scalable
Trustless
Borderless
Low tx fees
Fixed supply
100% uptime
Sound Money
Decentralized
Permissionless
Optional Privacy
Deflationary asset
No founder's stash
Digital Commodity
A detailed view at Litecoin’s tokenomics:
Initial Distribution: At its launch in 2011, Litecoin had no pre-mining, ensuring a fair distribution from the start; all circulating LTC have been mined or traded in the open market.
Mining Algorithm: Litecoin uses the Scrypt algorithm for mining, merge-mined with Dogecoin.
Total Supply: 84 million coins, four times that of Bitcoin, making it a deflationary asset.
Block Time: ≈2.5 minutes, four times faster than Bitcoin, enabling quicker transactions.
Litecoin’s mining rewards are halved approximately every four years during halving events.
Litecoin is deemed a commodity by CFTC (U.S. Commodity Futures Trading Commission) in many cases.
Litecoin is also cited by SEC (U.S. Securities and Exchange Commission) for not being a security.
Considering Litecoin’s history of reliability, longevity, and its legal status, Litecoin should be the next ETF in your list.
Let's do a dive in Litecoin's metrics:
- Hashrate at an all-time high, 1.62 Ph/s (surpassing Ethereum's peak hashrate of 1.13 Ph/s)
- Litecoins sent in USD per day / Transactions volume in USD
- Number of unique active addresses per day
- Number of transactions per day
- Number of crypto ATMs supporting Litecoin worldwide, second after Bitcoin, surpassing Ethereum and other altcoins.
- Top payment processor on BitPay for 13 consecutive months
- Third most used cryptocurrency on CoinGate
- Highest mining profitability of all PoW cryptos
- Average transaction fee is 0.000061 LTC ($0.0076)
- Median transaction fee is 0.00001 LTC ($0.0013)
- Lowest average fees among Bitcoin, Ethereum, Bitcoin Cash and Solana
- Higher average value per transaction than Ethereum & Solana, slightly below Tether (USDT)
The regulatory environment for cryptocurrency in the U.S. (and likely globally soon) is on the verge of becoming highly favorable.
Also, Litecoin is still at $110 although it's breaking usage metrics left and right.
Who will be the next institution to file a Litecoin ETF? Canary Capital currently has the first mover advantage. Think about the potential impact of bringing more Litecoin ETFs.
