While Ethereum (ETH) is predicted as the favorite candidate for the next spot ETF approval, expectations for another altcoin are rising in the corridors.
After the approval of spot Bitcoin exchange-traded funds (ETFs) back in January, all eyes turned to Ethereum.
Despite creating a pessimistic atmosphere in the market, the favorite ETF candidate remains Ethereum.However, FOX reporter Eleanor Terrett recently revealed that this situation may change.
In a post made by Eleanor Terrett on March 26th, it was mentioned that institutions are raising expectations for Litecoin (LTC) ETF and the name of Litecoin is more frequently mentioned in the corridors.
Reminding that Litecoin’s functional similarities to Bitcoin make it possible for ETF expectations, the reporter said that the possibility could be even higher than Ethereum.
There are rumors at the institutional level about potential interest in Litecoin ETF. The logic is that SEC may be more likely to approve Litecoin due to its functional similarities to Bitcoin. Probably even more than Ethereum.
It was previously reported that the U.S. Commodity Futures Trading Commission (CFTC), which recently filed a complaint against the cryptocurrency exchange KuCoin, has classified Bitcoin, Ethereum, and Litecoin as commodities, creating a different excitement in the cryptocurrency market.
According to CoinGecko data, LTC, which was positively affected by this news flow, rose by 5.2% in the last 24 hours, reaching up to $97.7.
