Litecoin (CRYPTO: LTC) surged as one of the market’s biggest gainers Thursday after the Nasdaq stock exchange submitted a request to the SEC to list a spot exchange-traded fund tracking the coin’s price.
What happened: The exchange submitted a 19b-4 application with the regulator to list shares of an ETF applied by digital asset trading firm Canary Capital.
The filing of the 19b-4 document marks the second step in the ETF approval process, which followed Canary Capital’s amended S-1 registration application on Wednesday. According to the rules, the SEC has 240 days to deny or approve the 19b-4 application.
Responding to the filing, leading ETF analyst Eric Balchunas said that Litecoin ETF has “all the boxes checked” and is …
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