Following its price increase of more than 12% in the past week to roughly $71.50 on October 16, Litecoin (LTC) is attracting more and more interest. The action followed growing buzz about a planned Litecoin exchange-traded fund (ETF) proposal by Canary Capital Group. Investors are excited, since this ETF may provide a more direct method for investing in Litecoin, allowing both individual and institutional participants to access the market. Related Reading: Analysts On Bitcoin: 2024 US Election Could Steer The Crypto’s Future The S-1 registration statement for the proposed ETF was filed on October 15, requesting permission from US regulators. Numerous individuals regard this as a transformative development. Approval might help legitimize Litecoin and facilitate further institutional investment. ‘Canary Capital plots Litecoin ETF’ – @Blockworks_ https://t.co/ypLW4NDYBa — Litecoin (@litecoin) October 17, 2024 Analytical Optimism Meanwhile, Litecoin’s future prospects are bullish among cryptocurrency analysts. While it has lagged recently, being some 80% below its all-time peak of $413.65 reached in May 2021, several analysts argue that the ETF might initiate a new bull cycle. Analyst 28 Crypto believes this ETF, combined with a suitable tec ..
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