Due to this news, it is now expected that litecoin might be the next in line to be approved of etf. This explains why many investors took the chance and bought litecoin as seen in its overbought status.
Though there are a lot of speculations around it, I don’t think etf ltc will be approved of any time soon. I still think that ethereum would be the next after bitcoin and any other altcoins would have a hard chance having the spotlight on them if ethereum is still under it.
Back ini 2016 ans 2017 Litecoin was known as mini Liteccoin because it was seen as smaller version of Bitcoin and it got recognition for having low fee transactions. It made all time high at $412 in 2021, but after its performance was never great despite it had its halving event (where its mining rewards were reduced 50%) halving event few month ago. If, its ETF is approved by SEC (Securities and Echange Commission), then Litecoin demand will certainly grow, it becomes popular and it could break all previous records of performance. DYOR