"Litecoin Transactions Skyrocket Amid U.S. ETF Buzz"

Litecoin Transactions Surge Amid U.S. ETF Listing Hype

Litecoin's network activity has witnessed a significant surge, with daily transaction volumes reaching $9.6 billion. This increase has been fueled by mounting excitement over potential U.S.-listed Litecoin exchange-traded funds (ETFs). According to a February 21 report from on-chain analytics platform Santiment, this surge in network utility has played a key role in boosting Litecoin’s (LTC) market capitalization by 46% between February 2 and February 19.

The uptick in Litecoin's network activity marks a significant increase from late August when Litecoin processed approximately $2.8 billion in daily transactions—representing a 243% rise in just five months. Notably, LTC’s price has doubled since early November, outpacing the broader cryptocurrency market, which has gained around 42% during the same period.

Investor enthusiasm has intensified amid developments surrounding proposed Litecoin ETFs. The U.S. Securities and Exchange Commission (SEC) acknowledged a rule-change filing on February 19 for the CoinShares Spot Litecoin ETF to be listed on the Nasdaq. A day later, the Depository Trust and Clearing Corporation (DTCC) listed Canary Capital’s proposed Litecoin ETF under the ticker “LTCC,” signaling preparations for a potential market debut.

The DTCC’s involvement is significant, given its critical role in processing trillions of dollars in daily securities transactions. The Litecoin Foundation emphasized that the DTCC listing is a “key preparatory step” toward a fund launch, though it does not guarantee approval. Market reactions have been swift, with LTC surging by approximately 8.5% following the DTCC listing news.

Just recently, asset management firm 21Shares officially filed with the U.S. Securities and Exchange Commission (SEC) to introduce a spot Polkadot ETF. The filing comes at a pivotal time for the SEC and cryptocurrency ETFs, following the resignation of SEC Chair Gary Gensler on Jan. 20. Gensler, known for his cautious stance on crypto regulations, stepped down amid increasing pressure for greater regulatory clarity in the digital asset space.

Likewise, Tuttle Capital Management filed applications for ten cryptocurrency-based lever