Litecoin, HBAR and more crypto ETFs ‘at the goal line’ as shutdown sits in the backdrop, analysts say
A new filing for an exchange-traded fund tracking HBAR has revealed key details that analysts say could signal it's inching closer to receiving the U.S. Securities and Exchange Commission's sign-off.
On Tuesday, Canary Capital filed an amended registration statement for its Canary HBAR ETF, disclosing its ticker symbol as HBR and designating a 0.95% sponsor fee. The firm also has a Litecoin ETF in development, which will be listed under the ticker symbol LTCC, with a 0.95% sponsor fee.
Bloomberg Senior ETF analyst Eric Balchunas says those details are usually the last thing to be updated before "go-time."
"With shutdown tho who knows but these docs look pretty finalized to me," Balchunas said in a post on Tuesday on X. He also said the 0.95% fee is "pricey" compared to spot Bitcoin ETFs, "but pretty normal to see higher fees for areas that are new to being ETF-ed and increasingly niche."
Bloomberg Intelligence analyst James Seyffart shared a similar sentiment: "Feels like Litecoin and HBAR ETFs are at the goal line here."
The SEC is weighing heaps of crypto ETF proposals from ones tracking DOGE to XRP to LTC. Those had been filed over the past year by firms in the wake of a friendlier regulatory environment for digital assets under the Trump administration.
However, a government shutdown in the U.S. has sort of thrown a temporary wrench into those plans. The SEC was poised to allow crypto ETFs to launch imminently, but the shutdown has since put the agency on ice after Congress failed to reach a deal on funding. It's unclear when the government will reopen, but it could be weeks or closer to a month.
The SEC is currently working under an operations plan whereby it has an "extremely limited number of staff members available to respond to emergency situations," according to that guidance.
Also on Tuesday, global investment firm GraniteShares filed for multiple leveraged ETFs, including Solana, XRP, and Ethereum. Last week, firms also filed for dozens and dozens of similar funds.
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