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Canary Capital brings Litecoin and Hbar ETFs to approval!
Canary Capital filed applications for Litecoin and Hedera ETFs, a move to encourage institutional crypto adoption.
Canary Capital brings Litecoin and Hbar ETFs to approval!
On October 8, 2025, the Canary Capital company submitted changes to the S-1 applications for proposed Spot-Exchange-Traded Funds (ETFS) in Litecoin (LTC) and Hedera (HBAR). These steps follow the delay in the decision by the US Securities Supervisory Authority SEC, which was not able to decide on the original time frame due to a government arrest. The new applications also include the final ticker symbols: LTCC for the Litecoin Fund and HBR for the Hedera Fund.
Both funds will charge a sponsor fee of 0.95 %, which is above the typical range of 0.2 % to 0.5 % for spot bitcoin ETFs, but is the standard for niche products in the digital financial space. According to analysts, these amendements draw the attention of the SEC on the fact that they are in the final preparations for a possible approval as soon as the authority can resume their business.
Approval horizon
Eric Balchunas, an ETF analyst at Bloomberg, describes these changes as the last step before approval. The net assets will be calculated daily using data from several stock exchanges around 4 p.m. In addition, the custody of the underlying tokens of regulated providers such as Bitgo and Coinbase is managed.
The submission of the Litecoin ETF applications began in the early year 2025, while the HBAR ETF looks back on a first submission in November 2024. At this point, a private HBAR trust for accredited investors has already been set up.
Institutional readiness and market reactions
Nasdaq has filed appropriate 19b-4 forms to list both funds, demonstrating that there is institutional readiness to support these products. Market experts already consider these ETFs to be pioneers among altcoin products. In particular, Litecoin's classification as a commodity and Hedera's regulatory clarity provide a promising basis for the launch of these funds.
Analysts estimate the odds of approval for the ETFs to be over 90% once the SEC resumes regular operations. In addition, Canary Capital plans to submit additional applications for spot ETFs in XRP and Solana. There are currently more than 90 crypto ETF proposals awaiting approval due to the ongoing SEC shutdown.
Approval for the Litecoin and HBar ETFs could increase institutional acceptance of cryptocurrencies, which would further consolidate the position of Canary Capital in the Altcoin ETFs market.