Momentum builds as issuers prep for the market once approvals return.
Key takeaways
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Why are Litecoin and Hedera ETFs delayed?
The ongoing U.S. government shutdown has paused SEC approvals.
Are new crypto ETFs still being filed during the shutdown?
Yes, issuers continue submitting products, including 3x leveraged ETFs for Bitcoin and Ethereum, ready to launch once Washington reopens.
Canary Capital’s spot Litecoin [LTC] and Hedera [HBAR] ETFs seem ready to go, with all final filings completed… but there’s a catch.
The ongoing U.S. government shutdown has delayed approvals, leaving several long-awaited products on hold. Yet, momentum in the crypto ETF space hasn’t slowed; in fact, it’s speeding up.
So close, yet so far
Canary Capital has made the final tweaks to its long-awaited Litecoin and Hedera spot ETFs, adding a 0.95% management fee and tickers: “LTCC” for Litecoin and “HBR” for Hedera.
Source: X
Bloomberg ETF analyst Eric Balchunas said these changes are usually “the last step before go-time,” suggesting both products are ready for launch.
Fellow analyst James Seyffart seconded the thought, saying,
“Feels like Litecoin and HBAR ETFs are at the goal line here.”
Despite the pause, excitement is building – these approvals could be the start of a new altcoin rally once the market reopens.
The filings keep coming
While Litecoin and HBAR ETFs wait for approval, ETF issuers aren’t slowing down.
Firms are reportedly still flooding the SEC with new applications, especially for 3x leveraged ETFs, which aim to deliver three times the daily returns of an asset.
Despite the U.S. government shutdown, issuers like Tuttle Capital, GraniteShares, and ProShares have filed dozens of new products, including ones tied to Bitcoin [BTC] and Ethereum [ETH].
Source: X
Balchunas estimates there are nearly 250 3x ETF filings, describing it as a “spaghetti cannon” approach; throwing everything at once because, as he put it, “the degens are hungry and fee insensitive.”
The race isn’t over
The U.S. government shutdown has left SEC approvals for crypto ETFs in limbo, with final decisions on at least 16 spot ETFs now delayed.
Even with new listing standards designed to speed up the process, deadlines have passed with little action as the agency operates with a skeleton crew.
Yet the pause hasn’t slowed issuers, who continue filing new products in hopes of hitting the market as soon as Washington reopens.
Next: Polygon rolls out Rio upgrade to speed up network, boost network efficiency
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