Litecoin's Mainstream Quest: The ETF Marathon

Hey Grayscale, Fidelity, Bitwise, Blackrock, VanEck, WisdomTree, CoinShares, Invesco US, Franklin Templeton! You've seen how Litecoin is gaining momentum, right?

It’s time to meet investor demand and tap into a growing market by leading with a Litecoin ETF. Let’s make it happen!

ICYMI:

Canary Capital filed for a spot Litecoin ETF in October 15 this year, becoming the first institution to apply for a Litecoin ETF.

Hashdex recently included Litecoin in “eligible cryptocurrencies” for newly filed Hashdex Nasdaq Crypto Index US ETF. While not guaranteed to be included in the index, only 5 cryptocurrencies made the initial cut. (Bitcoin, Ethereum, Avalanche, Chainlink, and Litecoin)

Clarity on the criteria to be eligible. (Reference chart 1-5):

Quick rundown on Litecoin:

• Fast

• Liquid

• Scarce

• Robust

• Secure

• Fungible

• Scalable

• Trustless

• Borderless

• Low tx fees

• Fixed supply

• 100% uptime

• Sound Money

• Decentralized

• Permissionless

• Optional Privacy

• Deflationary asset

• No founder's stash

• Digital Commodity

  
  

A detailed view at Litecoin’s tokenomics:

1. Initial Distribution: At its launch in 2011, Litecoin had no pre-mining, ensuring a fair distribution from the start; all circulating LTC have been mined or traded in the open market.

   
   

2. Mining Algorithm: Litecoin uses the Scrypt algorithm for mining, merge-mined with Dogecoin.

   
   

3. Total Supply: 84 million coins, four times that of Bitcoin, making it a deflationary asset.

   
   

4. Block Time: ≈2.5 minutes, four times faster than Bitcoin, enabling quicker transactions.

   
   

5. Litecoin’s mining rewards are halved approximately every four years during halving events.

Litecoin is deemed a commodity by CFTC (U.S. Commodity Futures Trading Commission) in many cases.

cftc.gov/PressRoom/PressReleases/8256-20

cftc.gov/media/10421/enfkucoincomplaint032624%20

Litecoin is also cited by SEC (U.S. Securities and Exchange Commission) for not being a security.

Considering Litecoin’s history of reliability, longevity, and its legal status, Litecoin should be the next ETF in your list.

Let's do a dive in Litecoin's metrics:

- Hashrate at an all-time high, 1.62 Ph/s (surpassing Ethereum's peak hashrate of 1.13 Ph/s)

Stats by Litecoin Space, BitInfoCharts and other Litecoin block explorers

- Litecoins sent in USD per day / Transactions volume in USD

Stats by Coin Metrics and BitInfoCharts

- Number of unique active addresses per day

Stats by IntoTheBlock, BitInfoCharts and Glassnode

- Number of transactions per day

Stats by IntoTheBlock, BitInfoCharts and Glassnode

- Number of crypto ATMs supporting Litecoin worldwide, second after Bitcoin, surpassing Ethereum and other altcoins.

Stats by Coin ATM Radar

- Top payment processor on BitPay for 13 consecutive months

Stats by BitPay

Stats by BitPay

- Third most used cryptocurrency on CoinGate

Stats by CoinGate

- Highest mining profitability of all PoW cryptos

Stats by ViaBTC, other mining pools and BitInfoCharts

- Average transaction fee is 0.000061 LTC ($0.0076)

Stats by BitInfoCharts, Litecoin Space and other Litecoin block explorers

- Median transaction fee is 0.00001 LTC ($0.0013)

Stats by BitInfoCharts, Litecoin Space and other Litecoin block explorers

- Lowest average fees among Bitcoin, Ethereum, Bitcoin Cash and Solana

Stats by Coin Metrics, presented in Fidelity's Litecoin report

- Higher average value per transaction than Ethereum & Solana, slightly below Tether (USDT)

Stats by Coin Metrics, presented in Fidelity's Litecoin report

The regulatory environment for cryptocurrency in the U.S. (and likely globally soon) is on the verge of becoming highly favorable.

Also, Litecoin is still at $110 although it's breaking usage metrics left and right.

Who will be the next institution to file a Litecoin ETF? Canary Capital currently has the first mover advantage. Think about the potential impact of bringing more Litecoin ETFs.