Canary Capital submits amended applications for spot Litecoin and HBAR ETFs

Canary Capital has filed updated applications for its proposed spot Litecoin ETF and Hedera exchange-traded funds.

The move signals that both products may be nearing approval despite the ongoing U.S. government shutdown.

According to filings made on Oct. 7, Canary submitted S-1 amendments for both ETFs, revealing their tickers as LTCC for the Litecoin (LTC) fund and HBR for the Hedera (HBAR) fund. The funds charge a 0.95% sponsor fee.

The fee level, while higher than the 0.2%–0.5% range typical for spot Bitcoin ETFs, is considered standard for niche or emerging digital asset products.

Litecoin and HBAR ETF details

Each ETF will directly hold the underlying tokens, with custody managed by regulated providers such as BitGo and Coinbase. Net asset values will be calculated daily using data aggregated from multiple exchanges around 4 p.m. ET.

The filings arrived just days after the Securities and Exchange Commission missed its original decision deadline for the Litecoin ETF due to limited operations caused by the U.S. government shutdown. Despite the delay, the amendments suggest Canary is making final preparations for potential approval once the SEC resumes normal functions.

Analysts see approvals as “imminent”

Bloomberg ETF analyst Eric Balchunas described the amendments as “the last thing updated before go-time.” Balchunas noted that while the 0.95% fee is “pricey” compared to Bitcoin ETFs, it’s common for first-of-its-kind funds. Seyffart added that the filings put both ETFs “at the goal line—victory in sight.”

Canary’s HBAR ETF traces back to an initial filing in Nov. 2024, followed by a private HBAR trust launched a month earlier for accredited investors. A similar process occurred for the Litecoin ETF, which first entered the SEC’s review cycle in early 2025. Nasdaq has already filed corresponding 19b-4 forms to list both funds, indicating strong institutional readiness.

Market observers see these ETFs as front-runners among altcoin products, citing Litecoin’s commodity classification and Hedera’s regulatory clarity as favorable factors. Once the SEC resumes operations, analysts predict approval odds of over 90%.

Broader ETF landscape

Canary Capital is positioning itself as an early mover in post-Bitcoin ETF innovation, with additional filings in progress for XRP and Solana spot ETFs. Across the market, more than 90 crypto ETF proposals remain pending as the shutdown halts regular SEC review cycles.

If approved, the Litecoin and HBAR ETFs could mark the next phase of institutional crypto adoption, offering investors exposure beyond Bitcoin and Ethereum while cementing Canary’s role as a leader in the altcoin ETF space.