ETF Launch Countdown ⏳ — Solana, Litecoin & Hedera Defy the U.S. Shutdown
Even while the SEC remains partly shut down, institutional investors are excited about Solana (SOL), Litecoin (LTC), and Hedera (HBAR) exchange-traded funds (ETFs) debuting on U.S. exchanges this week.
Industry sources say fund issuers have submitted the necessary documentation and obtained listing notifications, allowing crypto products to enter conventional finance.
The veteran asset managers driving this campaign, Bitwise Asset Management, Canary Capital, and Grayscale Investments, will debut their funds this week.
Bitwise's Solana ETF and Canary's Litecoin and Hedera ETFs have exchange listing notices for Tuesday debuts, according to Bloomberg analyst Eric Balchunas. Solana fund conversion by Grayscale is due Wednesday.
Key is how this is occurring despite the U.S. government shutdown. Issuers are using Form 8-A filings and updated S-1 registration statements with automatic effectiveness after 20 days to go online without SEC approval.
This legal workaround and September's generic listing rules have given cryptocurrency ETFs a rare chance to enter the market.
This ETF launch might change Solana. Solana, the sixth-largest blockchain by market size, attracts institutional investors with its fast ecosystem.
The Bitwise (BSOL) product allegedly incorporates staking, giving long-term investors an appealing “own crypto via a regulated fund” option.
Though lower in market size, Litecoin and Hedera acquire respectability via ETFs. Canary Capital's CEO said the spot LTC and HBAR funds would trade on Nasdaq on Tuesday as “LTCC” and “HBR”.
Market observers warn that although the launches are significant, token pricing, liquidity flows, and investor behavior surrounding product introduction are unpredictable.
The crypto industry is reaching a turning point. With Solana, Litecoin, and Hedera getting regulated ETF wrappers, cryptocurrency funds may be here to stay despite Washington's partial shutdown. The countdown begins.
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