Canary files 8-A registrations for Litecoin and HBAR ETFs

Canary Capital on Monday submitted 8-As filings for Litecoin and HBAR ETFs, while Bitwise has also filed a related application for Solana. The push to launch digital asset funds by institutional players comes amid the ongoing U.S.  government shutdown.

The Canary Capital LTC and HBAR funds are expected to launch this week; however, the exact timeline has not yet been confirmed. Preparations are being made to establish the funds this week despite the shutdown, since the SEC’s contingency plan permits only a handful of employees to address emergencies, including ETF approvals.

Balchunas expects Canary Capital LTCC and HBAR ETF approvals this week

According to an S-1 filing submitted by Canary earlier this month, each fund will include a 0.95% management fee. Bloomberg’s senior ETF analyst Eric Balchunas argued that the fee was higher compared to existing spot Bitcoin ETFs.

Balchunas also acknowledged that it’s typical for funds entering newer or more specialized markets to have steeper fees. He argued that if there are flows, the issuers will no doubt come and fill the sector with cheaper products. Canary Capital revealed that the proposed ticker symbols are HBR for the Hedera ETF and LTCC for the Litecoin ETF.

Despite the uncertainty surrounding the current government shutdown, market optimism about a potential Litecoin ETF launch remains high. On the Polymarket market predictions platform, traders have assigned an 88% probability of the ETF getting approved by the end of 2025.

Once a Litecoin ETF is approved, it could mark a major milestone for Litecoin, potentially reinforcing market demand and initiating a price rally. At the time of publication, Litecoin is exchanging hands at around $102.47, up 3.15% in the last 24 hours. LTC has also surged by more than 8.7% in the past 7 days, but has dropped 2.3% in the last 30 days.

Polymarket also gave a 60 to 80% chance of an HBAR ETF approval by the end of the year. Hederal is now included in six U.S. ETF filings, including Grayscale, Canary, REX-Osprey, and KraneShares, and others, signaling that institutional adoption is near.

The Nasdaq has also previously filed a Form 19b-4, which is required for the listing and trading of shares of the HBAR fund once it is approved by the Securities and Exchange Commission. The agency had pushed the ETF’s review date to November 8 to provide additional time for the SEC to conduct its administrative reviews and internal assessments.

Earlier last week, Hedera’s chief policy officer, Nilmini Rubit, was invited by the Institute of International Finance to accompany their delegation at Nasdaq’s Ring the Bell ceremony. Hedera acknowledged that such events reflect the growing intersection between traditional finance and emerging technologies.

NYSE approves Bitwise’s Solana Staking ETF

Bitwise CEO Hunter Horsley on Monday hinted at a potential big week for the crypto sector. His remarks follow Bitwise’s previous filing of an updated application for a Solana ETF, seeking to add staking functionality.

On Monday, the New York Stock Exchange approved the listing of Bitwise’s Solana Staking ETF on NYSE Arca. The crypto-focused asset manager has now expanded its offerings to Solana with staking capabilities to provide investors direct exposure to blockchain-native staking rewards.

The initiative follows the growing interest in Solana by institutional players, driven by the network’s high-performance capabilities. The Bitwise SOL ETF will still require SEC approval before trading on the New York Stock Exchange’s umbrella electronic trading platform, NYSE Arca. Bitwise said the initiative aims to bridge the gap between digital assets and conventional markets to make cryptocurrencies more accessible to retail investors.

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