The number of ETFs in the cryptocurrency markets has increased with recent ETH approvals. However, applications for more continue. Canary had recently applied for XRP Coin. Now he has taken action for a different altcoin.
Litecoin ETF Application
LTC price just appeared ETF After its application, it exceeded $70 again. XRP CoinUnlike ETH and BTC, LTC Coin has the potential to be seen as a commodity. In other words, the potential for other ETF issuers to join this application and take the same step may cause the LTC price to rise even more in the coming days.
Some aspects of LTC that set it apart, such as the fact that it is more decentralized than many other cryptocurrencies, may be to its advantage in the ETF evaluation process. We will see if others will join the application submitted by Canary Capital Group LLC. Interim decision dates for XRP and LTC Coin will be exciting in the coming months.
“LTC is a digital asset. Like all digital assets, buying, holding, and selling LTC is very different from buying, holding, and selling more traditional investments like stocks and bonds. Stocks represent ownership in a company and give shareholders the right to receive a portion of the company’s profits. Bonds are debt instruments issued by companies or governments, and the bondholder is a creditor to the issuer who is generally entitled to a stream of income payments. Ownership of stocks and bonds is typically recorded through a centralized system managed by brokers, custodians, or clearinghouses. LTC ownership does not entitle owners to any portion of a company’s profits or any stream of income payments. LTC is a decentralized digital asset and its ownership is reflected in a decentralized ledger.”
The company’s emphasis on decentralization is the most important part of the application.
Disclaimer: The information contained in this article does not constitute investment advice. Investors should be aware that crypto currencies carry high volatility and therefore risk, and should carry out their transactions in line with their own research.
