EDX Markets Shakes Up Crypto Offering: Bitcoin Cash Out, Litecoin In Spotlight Amid ETF Anticipation
EDX Markets, backed by Charles Schwab, Citadel, Fidelity, and Sequoia, originally featured four digital assets: Bitcoin, Bitcoin Cash, Ethereum, and Litecoin.
Unexpectedly, Bitcoin Cash was later removed from the exchange, possibly due to its vulnerable network, with less than 1% of the total SHA256 hashrate, making it susceptible to a 51% attack. Another plausible explanation could be the Commodity Futures Trading Commission (CFTC) only designating Bitcoin, Ethereum, and Litecoin as recognized digital commodities.
The exchange now exclusively features Bitcoin, Ethereum, and Litecoin, each with distinct market capitalizations — Litecoin at $5 billion, dwarfed by Bitcoin's $690 billion and Ethereum's $236 billion.
Notwithstanding its smaller market cap, Litecoin continues to garner institutional attention. As anticipation builds for Bitcoin and Ethereum exchange-traded funds (ETFs), there is a rising conjecture that Litecoin might be the next in line to secure regulatory approval for its own ETF.
Could EDX Markets serve as an indicator that Litecoin is poised for this regulatory milestone?