- Canary Capital files final S-1 amendments for Litecoin and Hedera ETFs, signaling imminent approval.
- Analysts see over 90% approval odds once SEC operations resume after the government shutdown.
- The ETFs mark a new wave of altcoin exposure as Canary eyes future Solana and XRP fund launches.
Canary Capital has taken its Litecoin and Hedera spot exchange-traded funds (ETFs) closer to launch after submitting final amendments to the U.S. Securities and Exchange Commission. While the ongoing government shutdown has delayed approvals, analysts expect the filings to be approved quickly once the SEC resumes full operations.
Canary Submits Final Filings for Litecoin and Hedera ETFs
On October 7, Canary Capital submitted S-1 amendments for its proposed Litecoin and Hedera spot ETFs. The filings confirmed the ticker symbols “LTCC” for the Litecoin fund and “HBR” for the Hedera fund. Each ETF will charge a 0.95% sponsor fee, higher than Bitcoin ETF averages but typical for niche crypto products.
The ETFs will directly hold Litecoin (LTC) and Hedera (HBAR) tokens, with regulated custodians BitGo and Coinbase managing storage. Canary said the funds’ net asset values will be calculated daily using aggregated data from multiple exchanges at around 4 p.m. ET.
Bloomberg analyst Eric Balchunas described the new amendments as “the last thing updated before go-time,” signaling that both ETFs are close to approval. Fellow analyst James Seyffart added that the funds are “at the goal line,” noting that only procedural delays remain due to the SEC’s limited operations during the shutdown.
Shutdown Delays Approval but Momentum in ETF Filings Continues
The SEC missed its original decision deadline for the Litecoin ETF after government operations slowed from the October 1 shutdown. Despite the pause, the filings suggest Canary is making final preparations ahead of regulatory clearance. Nasdaq has already submitted 19b-4 forms to list both funds, showing institutional readiness.
Canary’s Hedera ETF originated from an initial filing in November 2024, followed by a private HBAR trust for accredited investors. The Litecoin ETF entered the SEC’s review cycle in early 2025, aligning with the broader wave of post-Bitcoin ETF development.
Analysts estimate approval odds above 90% once the SEC resumes full operations. Market observers expect the funds to lead a new phase of altcoin ETF growth, expanding investor access beyond Bitcoin and Ethereum. Canary is also pursuing additional filings for Solana and XRP ETFs, underscoring its strategy to lead institutional exposure in emerging crypto assets.
