Mar. 5, 2025
Litecoin, the OG asset in the altcoins market, deserves to have its Grayscale ETF approved for the following reasons: Litecoin is based on Proof of Work and ensures fundamental integrity and assurance of immutability, unlike Proof of Stake assets where bad actors can gain control simply by owning the asset. Litecoin is dominant in its hashing function and ensures resistance to attacks. Litecoin is not dependent upon the security of another asset. Litecoin solves the blockchain trilemma (decentralization, security & scalability). Litecoin does not have a premine or allocation to insiders. Litecoin has been existing and operational for at least 10 years (since October 2011). Litecoin is not a security as it has been deemed a commodity by the CFTC. Litecoin is able to be secured in cold storage utilizing multisig systems that do not involve blind signing. The blockchain of Litecoin is fully intact and verifiable from the genesis block. Litecoin's 100% uptime longevity and all its other properties have proven that Litecoin is the only altcoin to come close to Satoshi's vision.