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Bitcoin ETF Approvals: Clearing the Path for a future Litecoin ETF

Updated: Jan 7

After 15 years since Bitcoin's inception and 10 years since the first initial attempt by the Winklevoss twins in 2013 to introduce a Bitcoin ETF, a pivotal moment is upon us. In the upcoming week, the SEC is poised to potentially approve not just one, but eleven Bitcoin ETFs, featuring industry giants like BlackRock, Fidelity, ARK, Van Eck, and Grayscale. Notably, even Valkyrie, a relatively lesser-known entity, has submitted filings.

What sets Valkyrie apart is Steven McClurg, the Chief Investment Officer and Co-Founder, who is scheduled to speak at the Litecoin Summit in Nashville.

James Seyffart, Research analyst within Bloomberg Intelligence, has led the tracking of these ETFs. All eleven entities have completed the 19b-4 amendments, paving the way for the next phase—the submission of S-1s, expected on Monday.

This milestone will set the stage for the SEC commissioners to vote likely on Wednesday for approval with potential launch for Thursday or Friday.

January 9th holds significance for potential approval, marking the precise date, 15 years ago, when Bitcoin mining first started. It aligns with the historical timeline as the creator of Bitcoin waited six days after the creation of the Bitcoin genesis block 0 on January 3rd to release the code for mining to start with block 1.

Senior ETF Analyst Eric Balchunas for Bloomberg has outlined the likely scenario from multiple sources.

Anticipating potential Bitcoin ETF approvals next week, Grayscale has already stated they have plans to convert the Litecoin Trust into a Litecoin ETF. Presently, the sole Litecoin-focused investment option available to investors is the Litecoin Grayscale Trust, traded under the ticker symbol $LTCN.

Could others like Valkyrie be next for a Litecoin ETF in the coming years?



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