Crypto reporter Eleanor Terrett shared that two new altcoin exchange-traded funds (ETFs) are about to start trading on the NASDAQ, beating out Dogecoin and XRP spot ETFs. According to the journalist, everything needed to begin trading is already in place, even though the government is in a shutdown. The legal rules allow these ETFs to go live without government staff needing to approve anything first, so the launches are still moving forward.
Litecoin And Hedera ETFs Begin Trading On NASDAQ
Terrett explained on X that Canary Funds’ spot Hedera (HBAR) and Litecoin (LTC) ETFs are now effective. She reported that these two altcoin ETFs will begin trading on the NASDAQ on Tuesday, according to Canary Capital CEO Steven McClurg. McClurg told Terrett in a statement that “Litecoin and Hedera are the next two token ETFs to go live after Ethereum.” He also said, “We look forward to launching tomorrow.”
Terrett shared this update after months of rising anticipation and waiting. The debut of these exchange-traded funds for Hedera (HBAR) and Litecoin (LTC) is now imminent, expanding crypto-based investment products into mainstream US markets. McClurg’s statement confirms the company’s excitement and readiness for the launch. Both ETFs will begin trading on NASDAQ on Tuesday, making them accessible to more traditional investors through regulated brokerage accounts.
Altcoin ETF Launches Move Ahead Even During Shutdown
Terrett also explained why these altcoin ETFs can move ahead during the government shutdown. She said that the operation of law does not always require an open government. The legal process behind ETF launches continues even when some parts of the government are closed.
She explained that, in her view, 8-A filings are just as crucial as S-1 filings for an ETF launch. The 8-A filings formally register ETF shares under the 1934 Act so they can trade on an exchange, and the S-1 filings register them under the Securities Act of 1933.
As mentioned by Terrett, the New York Stock Exchange (NYSE) certified all the 8-A filings for the altcoin ETFs. She said this is the final step before shares can start trading. The issuers also added language in their amended S-1 filings that allows the ETFs to become effective automatically 20 days after filing. The SEC does not need to manually approve them, as S-1 filings can go live on their own, even during the government shutdown.
Terrett also noted that the shutdown pushed back earlier decision deadlines, but now all legal boxes are checked, so the altcoin ETFs are still on track for launch.
Additionally, she also highlighted that Bloomberg ETF expert Eric Balchunas confirmed the listing notices from the exchange. He said that the NYSE posted listing notices for Bitwise Solana, Canary Litecoin, and Canary HBAR, launching on Tuesday, and for Grayscale’s GSOL, converting on Wednesday. According to the Bloomberg analyst, everything looks ready now, unless there is a last-minute SEC intervention.