SEC has admitted the GrayScale application to convert her confidence in Litecoin to Spot Litecoin ETF and is now seeking general comments on the suggestion. This represents an important step in the organizational review process, but it is not yet approved.
His Supreme Education Council Start A 21 -day year suspension period allows investors, industry experts and financial institutions to make notes on potential approval on ETF Litecoin. The agency will evaluate concerns about market stability, protect investors and organizational compliance before making a final decision.
Along with this development, many Sol and XRP Spot investment funds are expected to be approved soon. Several digital asset companies have shown interest in meeting the institutional demand for these assets, which may open the door for more digital assets to enter organized investment products.
While the SEC Hester People Commissioner continues the call for the encryption regulations, the agency’s final ruling is still inaccurate. The results of this review will help determine whether more altcoins can reach traditional investment compounds, which constitute the broader ETF encryption industry.
GrayScale also also introduced XRP with SEC in cooperation with the New York Stock Exchange (NYSE), Cryptomode said.
Read more: GrayScale files to narrate Sot Solana Etf on NYSE
Litecoin market response
Litecoin rose shortly to $ 109.81 after SEC announced to open comments on this ETF. However, the momentum has since faded, and LTC is now trading about $ 101 after losing support in EMA for 50 days ($ 110.75).
If the pressure pressure persists, the SMA for 200 days ($ 84.97) will be the next main support level. The 41.58 -year -old information index indicates the weakening of the upward strength, but the maximum Litecoin market, which reaches a little more than 8 billion dollars, indicates an increase in investor’s interest as investors are waiting for the final SEC decision.
