After months of uncertainty, Canary Capital is preparing to debut its spot exchange-traded funds (ETFs) for Hedera (HBAR) and Litecoin (LTC) on Tuesday, US time. The development marks a pivotal moment for the firm, which has become one of the first to advance ETF approvals amid an ongoing US government shutdown.
ETF Launches Proceed Despite Government Shutdown
The announcement comes following reports from multiple analysts confirming that the New York Stock Exchange (NYSE) has posted listing notices for the Canary HBAR and Litecoin ETFs, alongside Bitwise’s Solana ETF. Bloomberg analyst Eric Balchunas noted that the approvals were filed under a special provision introduced by the Securities and Exchange Commission (SEC) earlier this month.
The SEC’s guidance allowed applicants to move forward by removing the delaying amendment from their filings. This adjustment meant that, once submitted, ETF registrations would automatically take effect after 20 days.
Canary Capital acted swiftly, resubmitting its applications for the Hedera and Litecoin ETFs on October 7. The filings went largely unnoticed until recent updates confirmed the ETFs’ imminent launch.
Bitwise and Grayscale Move Ahead with Solana ETFs
Besides Canary’s listings, Bitwise is also set to introduce a Solana staking ETF, offering exposure to Solana’s 7% average staking reward. Grayscale will follow by converting its Solana Trust into an ETF on Wednesday. These moves underscore the growing institutional focus on staking-based products, even as the broader market remains cautious amid the shutdown.
Solana’s market performance has strengthened in anticipation of these launches. The token is trading around $202, up nearly 10% in the past week. The momentum suggests investor optimism tied to the upcoming ETF listings.
Analysts See Solana Extending Toward $210
Source: X
Market analyst Ali Martinez observed that Solana could push toward the $210 level before entering its next consolidation phase. The token has shown strong support near $191, where buyers consistently re-enter. A decisive break above $210 could open the door to higher targets, while a drop below $191 might test $176.
