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

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

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

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.