Canary Capital’s Litecoin exchange-traded fund is advancing toward approval as the US SEC invites public feedback before deciding whether to favor or reject the listing.

Litecoin (CRYPTO: LTC) soared to double-digit gains on Wednesday after the SEC formally acknowledged its exchange-traded fund application. What happened: The regulator solicited comments on the ETF applied by digital asset trading firm Canary Capital and asked for those to be submitted 21 days after publication in the Federal Register.

The SEC has opened a 21-day public comment period for Canary Capital's Litecoin ETF proposal, which would offer traditional brokerage access to the cryptocurrency

Canary's proposed Litecoin ETF aims to eliminate the technological hurdles that have historically irked mainstream investors.

Litecoin (LTC) prices shot up 11% in the past 24 hours, printing a daily high of $131 and analyst predict $170 in the near future.

Litecoin price surged 13% on Thursday followed by U.S. SEC formally acknowledging Canary Capital's application for a spot Litecoin ETF.

Litecoin's 15% price increase to $125.90 was driven by positive FOMC meeting outcomes, potential ETF developments, and increased network activity with 122,000 new wallet holders.

Litecoin (LTC) sees an 11% price surge following the SEC's acknowledgment of the Canary Litecoin ETF filing, with analysts predicting future highs of $170.

Litecoin surged more than 11% in the last 24 hours as the US SEC moves closer to a decision on the Canary Litecoin ETF.

The SEC has "acknowledged" Canary Capital's filing for a Litecoin ETF, pushing $LTC prices higher and triggering a wave of excitement among Litecoin users who believe $LTC is the better coin than Bitcoin.