TL;DR
- Three crypto ETFs—Solana, HBAR, and Litecoin—prepare public listings amid regulatory slowdown.
- SEC guidance permits S-1 filings to activate automatically after twenty-day waiting period.
- Canary Capital leads with Litecoin and HBAR ETF filings despite government shutdown constraints.
Several managers plan to list exchange-traded funds that track Solana (SOL), Hedera (HBAR) and Litecoin (LTC) in the coming week. Sources cited filings for the Canary Litecoin ETF, the Canary HBAR ETF and the Grayscale Solana Trust ETF. The issuers rely on an SEC procedure that allows an S-1 registration to take effect after 20 days when no delaying amendment appears. That route reduces reliance on active agency review while carrying legal risk if the registration contains errors.
Managers filed paperwork tied to public listing rules already approved by the securities regulator. Canary Capital submitted Form 8-A notices to incorporate S-1s for Litecoin and HBAR listings. The filings signal intent to list shares once the statutory waiting period ends.
“If you do that, you can launch, but you’re taking a risk that the SEC might have comments that you did not clear through them, and then there might be things that are problematic with your S-1 that a shareholder can sue you over if there’s a misstatement or omission,” an analyst said.
Market analysts said issuers advancing with clean filings accept the chance of later SEC comments and potential shareholder actions over misstatements or omissions.
Regulatory Steps and Market Timing
Before the shutdown, the SEC approved listing standards for three exchanges that permit quicker listing of commodity-based trust shares. Those standards allow some issuers to bypass the longer 19b-4 process and move to market faster. Meanwhile, staff capacity has fallen under the agency’s shutdown plan, and many reviews remain on hold.
Also, a social post by Kyle Samani of Multicoin Capital briefly mentioned a Bitwise SOL Staking ETF before the message was removed. Issuers differ in readiness and will act according to their filing status. If regulators later require amendments, the effective date clock resets and listing plans can stall.
For his part, Eric Balchunas, senior ETF analyst at Bloomberg, confirmed in a tweet the imminent approval and launch of several crypto ETFs.
Confirmed. The Exchange has just posted listing notices for Bitwise Solana, Canary Litecoin and Canary HBAR to launch TOMORROW and grayscale Solana to convert the day after. Assuming there’s not some last min SEC intervention, looks like this is happening. https://t.co/bHwRnc1jsn
— Eric Balchunas (@EricBalchunas) October 27, 2025
According to his post, the exchange had issued listing notices for four key products: Bitwise’s Solana ETF, Canary’s Litecoin ETF, and Canary’s HBAR ETF, all scheduled for October 28, 2025; in addition, the conversion of Grayscale’s Solana ETF was scheduled for October 29. Balchunas cautioned that everything will depend on the SEC not intervening at the last minute, leaving open the possibility of last-minute regulatory adjustments.
Investors and traders watch filing activity for signs of a broader ETF market. Several funds awaited final agency steps before the shutdown and stand ready to proceed under the current guidance. Still, legal exposure and operational checks remain relevant for trustees and exchanges.
