Litecoin (LTC) gained over 15% on Thursday following the United States (US) Securities and Exchange Commission's (SEC) acknowledgment of Canary Capital's Litecoin exchange-traded fund (ETF) 19b-4 filing.

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.

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.

Canary Capital’s Litecoin ETF has become the first altcoin 19b-4 to be acknowledged by the US Securities and Exchange Commission.

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