In a surprising turn of events, spot ETFs for Litecoin (LTC) and Hedera (HBAR) are now officially live and will begin trading on NASDAQ tomorrow, according to Canary Funds CEO Steven McClurg. Litecoin and Hedera are the next two tokenized ETFs to go live after Ethereum, and Canary Funds has confirmed their launch tomorrow.
Additionally, Bloomberg Senior ETF Analyst Eric Balchunas confirmed that the NYSE has certified 8-A filings for several crypto ETFs, including Bitwise’s Solana Spot ETF (SOL) and Grayscale’s GSOL, which will convert on Wednesday.
He said the Exchange has published listing notices for Bitwise Solana, Canary Litecoin and Canary HBAR which will be launched tomorrow and for Grayscale Solana which will be converted the next day. Barring last-minute intervention from the SEC, the launches are moving forward.
How are ETFs launched during a government shutdown?
This set of ETF approvals has raised questions about how such progress is possible during the current U.S. government shutdown. Journalist Eleanor Terrett explained that certain legal provisions allow ETFs to move forward without active SEC oversight.
Under the Securities Exchange Act of 1934, the Form 8-A filing officially registers ETF shares for trading on an exchange, while the S-1 filing registers them under the Securities Act of 1933.
The NYSE certified all relevant 8-A filings this morning, marking the final procedural step before trading begins. With respect to S-1s, issuers have included language allowing their registration statements to automatically become effective 20 days after filing, thereby avoiding the need for manual SEC approval.
This mechanism means that ETFs can legally go live even when SEC staff are unavailable, allowing launches to continue without interruption despite the shutdown.
However, not all digital asset communities are celebrating.
While the crypto market welcomes the launch of new ETFs, XRP investors are once again left behind. Legal expert Bill Morgan noted that delays around XRP have become a recurring theme and the asset continues to be excluded from major developments.
He also said that the price of XRP generally reflects the movements of Bitcoin, explaining that even multiple ETF approvals would not necessarily cause the token to rise if Bitcoin were to fall.
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