Several prominent firms have been jumping into the ETF market. Cryptocurrency exchange-traded funds (ETFs) have been growing in popularity. More recently, prominent asset manager Grayscale submitted a filing with the US Securities and Exchange Commission (SEC). The firm intends to convert its $16.1 million XRP trust into an ETF. Amidst this, an ETF filing that made headlines was Litecoin (LTC). The real question is which cryptocurrency will get approval first.
Also Read: 1,000+ USAID Staff Fired After Refusing Musk’s D.O.G.E. Team Secure Access
XRP vs Litecoin: Which Asset Will Get An Approval?
Considering the current state of the government, both these assets will likely garner a green signal. According to a Bloomberg analyst, the chances of a Litecoin ETF snagging approval from the SEC before Ripple’s XRP were higher. James Seyffart pointed out how the SEC continues to assert that XRP is a security, which might prevent ETFs based on the cryptocurrency from receiving clearance. He further adds that Ripple, the company that issues XRP, is still embroiled in a legal battle with the SEC. He added,
“There’s some more work that needs to be done on that front that doesn’t need to happen with something like Litecoin. The SEC has never called Litecoin a security so, I wouldn’t be surprised if you see Litecoin come first.”
Also Read: Man Regrets Selling SHIB: ‘I Would Have Made $1 Billion in Shiba Inu’
Price Prediction
Litecoin was trading at $95.14, during press time. The asset witnessed an 18.71% drop over the past 24 hours. According to data from CoinCodex, LTC is expected to trade at a maximum price of $218 in 2025. The asset will witness a 130% spike from its current price level. This will take place in the month of May.
Meanwhile, XRP was trading at $2.30, at the time of writing, This comes after a massive drop of 21% throughout the past day. CoinCodex’s prediction reveals that XRP will be priced at a high of $4.06 following a 74% uptick from its present price. This is expected to occur in the month of April.
Also Read: Top 3 Cryptocurrencies To Buy During The Market Crash
Credit: Source link
