Canary Capital will launch both an exchange-traded fund tracking Litecoin and another tracking Hedera, marking the first of their kind to go live in the U.S.
The digital asset investment firm plans to debut the Canary Litecoin ETF and the Canary HBAR ETF on Tuesday on Nasdaq, according to a statement from the firm.
“This is another landmark moment in what has been a pivotal year for the crypto industry. Canary is incredibly proud to have delivered on our mission to bring registered crypto investment solutions to the broader investment public,” said Steven McClurg, CEO and founder of Canary Capital.
The ETFs’ launches come after the Securities and Exchange Commission issued guidance a week after the government shut down, clarifying procedures for firms seeking to go public. In it, the SEC said that if firms want to go public, they can file an S-1 registration statement without what’s called a delaying amendment, according to a person familiar with the process. A delaying amendment means the ETF wouldn’t go into effect after 20 days, allowing the SEC time to work through comments.
The S-1 has to be final, and if changes are made, that restarts the clock for them to go into effect in 20 days. As part of that process, firms have to file a Form 8-A, two of which were filed by Canary Capital earlier in the day on Monday for the Litecoin and HBAR ETFs. The Grayscale Solana Trust ETF is slated to launch on Wednesday, according to a person familiar.
Litecoin and HBAR are in the top 30 of the largest cryptocurrencies by market capitalization, according to The Block’s price page. Litecoin allows for fast and low-cost transactions and is similar to Bitcoin since it serves as a peer-to-peer crypto. HBAR is the native token of Hedera, a decentralized public network that utilizes the Hashgraph consensus algorithm to facilitate fast and secure transactions.
Before the shutdown earlier this month, dozens of crypto ETFs were primed for SEC sign-off. The SEC has been operating under its shutdown plan, which significantly limits what staff can work on as many are furloughed. However, ahead of the shutdown, the agency approved listing standards, which essentially meant dozens of crypto ETF applications could go live more quickly.
© 2025 The Block. All Rights Reserved. This article is provided for informational purposes only. It is not offered or intended to be used as legal, tax, investment, financial, or other advice.
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