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.
“Interested persons are invited to submit written data, views, and arguments concerning the foregoing, including whether the proposed rule change is consistent with the Act,” a statement from the filing read.
The development sparked over a 11% increase in LTC, making it the biggest 24-hour gainer among coins valued at $1 billion or more. Its trading volume nearly doubled to $1.19 billion.
Leading ETF analyst Eric Balchunas said the Canary Capital ETF filing was “by far the furthest along …
Full story available on Benzinga.com