- Spot ETFs for SOL, LTC, and HBAR begin trading after bypassing SEC review using the 20-day rule.
- Bitwise and Canary ETFs launch on Nasdaq, NYSE amid government shutdown, using a legal registration strategy.
Spot exchange-traded funds (ETFs) for Solana (SOL), Litecoin (LTC), and Hedera (HBAR) are set to begin trading on US exchanges. The products are issued by Bitwise, Canary Capital, and Grayscale, and will be listed on the Nasdaq and New York Stock Exchange (NYSE) starting this week.
The launches are taking place despite the ongoing partial shutdown of the US government. Legal provisions allowed the registration process to continue without direct action from the Securities and Exchange Commission (SEC).
Canary Capital CEO Steven McClurg confirmed that the Canary Litecoin ETF (LTCC) and Canary HBAR ETF (HBR) will start trading on October 28. The Bitwise Solana ETF (BSOL) is scheduled for the same day. Grayscale’s Solana Trust (GSOL) is expected to convert to a spot ETF on October 29. McClurg said in a statement:
Litecoin and Hedera are the next two token ETFs to go effective after Ethereum,
The ETFs moved forward after Form 8-A filings were certified by the Nasdaq and NYSE. These filings register the shares for public trading under the Securities Exchange Act of 1934. Without the need for SEC staff to intervene, the ETFs reached listing status through automatic effectiveness.
How They Launched Without SEC Approval
The issuers added language to their S-1 registration forms that allows them to become effective after 20 calendar days without review. This is a legal option available under US securities law and does not require an active response from the SEC.
Journalist Eleanor Terrett explained,
The issuers included language in their amended S-1s that lets them automatically go effective 20 days after filing.
The agency doesn’t need to approve them manually.
Bloomberg ETF analyst Eric Balchunas confirmed that both exchanges posted the final listing notices. He called it “the final step before shares can start trading.”
🚨NEW: @CanaryFunds spot $HBAR and $LTC ETFs are now effective and will begin trading on the NASDAQ tomorrow, according to CEO @stevenmcclurg.
“Litecoin and Hedera are the next two token ETFs to go effective after Ethereum,” McClurg told me in a statement. “We look forward to… https://t.co/tPjsjLEE3R
— Eleanor Terrett (@EleanorTerrett) October 27, 2025
ETF Structure and Market Positioning
The Bitwise Solana fund will offer direct SOL exposure and advertise a 7% staking yield with no management fees for a limited period. Canary’s HBAR fund will hold HBAR tokens in custody with BitGo and Coinbase Custody, with price data provided by CoinDesk Indices.
These ETFs arrive after months of preparation. As of late October, 155 crypto ETF filings had been submitted across 35 tokens, according to a Bloomberg analyst. Solana and Bitcoin lead with 23 filings each.
Meanwhile, Solana (SOL) is priced at $200, up 0.43% over the last 24 hours and 8% over the week. Analyst Ali said,
Solana $SOL could push to $210 before making its next big move! pic.twitter.com/3xyuPLlfi6
— Ali (@ali_charts) October 27, 2025
Litecoin (LTC) trades at $101.80, rising 2.78% daily and 10.60% weekly. Chart watcher CryptoBull_360 noted that Litecoin is gaining strength and may test $140 in the near term.
Hedera (HBAR) is near $0.11. Analyst Egrag Crypto described the setup as a high-risk, high-reward trade, writing: “You’re risking $1 to potentially make $40,” referring to a 30x upside versus a 75% potential drop.
