There are now two Litecoin ETF submittals out for the 21-day public comment period.
Your voice is important in this process.
How You Can Participate:
Grayscale Litecoin Trust Proposal: The SEC has opened a comment period starting February 6, 2025. Share your thoughts here:
Grayscale Litecoin ETF Comment Form.
Canary Capital Litecoin ETF Proposal: The comment period for this proposal began on January 29, 2025. Submit your comments here:
What to Say in Your Comment:
Explain why you support the idea of a Litecoin ETF and how its similar to a Bitcoin ETF.
Share your thoughts on how these ETFs could lead to greater adoption and understanding of decentralized proof of work cryptocurrencies.
Your input is still incredibly valuable. The comment periods provide a window for the community to show support and educate the SEC and the general public on the Litecoin network.
Bloomberg analyst James Seyffart is sticking with his call that Litecoin will be the third ETF approved after Bitcoin and Ethereum.
Here you can read the comments for the Canary Capital ETF already submitted: https://www.sec.gov/comments/sr-nasdaq-2025-005/srnasdaq2025005.htm
A user with the handle "Satoshi Nakamoto" wrote, but it's clearly not the real Satoshi since he didn't use double spaces after periods...
Litecoin, the second oldest blockchain after Bitcoin, exhibits the same special characteristics of a decentralized peer-to-peer electronic cash system that Satoshi Nakamoto wrote about in the Bitcoin white paper. It shares nearly identical traits with Bitcoin, particularly in terms of a capped supply and a halving mechanism for coin distribution. Litecoin was designed to complement Bitcoin, created as "Silver to Bitcoin's Gold," with four times the supply and four times faster block times. It uses a different mining algorithm, called Scrypt, which is more memory-intensive rather than computational, allowing for mining that doesn't compete directly with Bitcoin's. This distinction is particularly significant for leveraging mining operations to balance energy grids, as it involves two separate mining devices and ecosystems—SHA-256 for Bitcoin and Scrypt for Litecoin. This makes Litecoin an excellent candidate for diversification, not just for capital investments but also for investments in physical infrastructure, human capital, and hardware, offering investors another choice into Litecoin as a "second" version of Bitcoin.
With 100% uptime throughout its history, Litecoin sets itself apart from Bitcoin, which has experienced two instances of downtime, offering a more predictable transaction throughput with its precise block times. The launch of Litecoin was notably fairer, with its creator, Charlie Lee, conducting a poll to determine the start date, which was fortunately timed when Bitcoin miners were transitioning to ASICs, ensuring a broader distribution of coins at inception. Charlie Lee, an MIT engineer with experience at Google and as former Director of Engineering at Coinbase, brought significant credibility to Litecoin. His approach arguably made Litecoin's distribution more equitable than Bitcoin's during its early, less developed days. Lee's decision to divest from Litecoin ownership further decentralizes it, while he continues to contribute to both Litecoin and Bitcoin development. This stands in contrast to Bitcoin's creator, Satoshi Nakamoto, whose identity remains a mystery to the world, who is believed to hold 5% of Bitcoin's supply and left to work on other things.
Given Litecoin's established history, fair launch, and strategic creation by a known US citizen and respected engineer like Charlie Lee, coupled with its widespread adoption across exchanges, its dominance in cryptocurrency ATMs worldwide, and its status as one of the three cryptocurrencies natively supported by Fidelity, it makes a compelling case for SEC approval of a Litecoin ETF. Its operational stability, strategic design, and the clear demand from both retail and institutional investors indicate that approving a Litecoin ETF could be a prudent and forward-thinking decision by the SEC.
Moreover, after Litecoin was integrated into BitPay, the largest cryptocurrency payment platform, it quickly surpassed Bitcoin in usage and has since remained the #1 cryptocurrency used for payments on this platform. This real-world adoption further underscores Litecoin's utility and relevance in the cryptocurrency ecosystem, providing additional justification for the SEC to consider approving a Litecoin ETF.
Litecoin is also available as one of four cryptocurrencies on PayPal and Venmo, having been integrated since 2020. This accessibility through major payment platforms like PayPal and Venmo not only broadens its user base but also enhances its practical utility, further supporting the argument for its potential as a viable investment through an ETF.
At a minimum Litecoin is a perfect complement and at best Litecoin is actually a better Bitcoin.
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