ETF momentum is once again blowing in the crypto market. Spot funds, which have been approved repeatedly in the US in recent weeks, have provided investors with direct access to crypto assets and created new momentum in the sector. This week, all eyes are on spot ETFs for Solana, Litecoin, and HBAR. The launch of three separate products in the same week by leading asset managers like Bitwise, Canary Capital, and Grayscale indicates that 2025 is one of the most active periods for the crypto markets.
Spot ETFs for SOL, LTC, and HBAR are coming.
The crypto market will witness three major spot ETF launches this week. Bitwise's Solana, Canary Capital's Litecoin and HBAR spot ETFs will begin trading today. Grayscale's Solana ETF will be available to investors on Wednesday. This opens the door to a new era for both Solana and the altcoin market. New guidance issued by the U.S. Securities and Exchange Commission (SEC) in early October paved the way for these launches. Following the government shutdown, the agency stated that companies could submit their S-1 registration form during the IPO process without any delaying changes. This regulation allowed ETF applications to automatically take effect within 20 days. This expedited the approval process, which normally takes weeks due to the SEC's comment period.
Canary Capital has introduced two new funds to trade on the Nasdaq exchange: the Canary Litecoin ETF and the Canary HBAR ETF. "This is a milestone year for the crypto industry," said Steven McClurg, founder and CEO of the company. "We are working to provide investors with legal, regulated, and easy access to crypto assets." These two funds are the first spot ETFs in the U.S. built on Litecoin and Hedera (HBAR).
Litecoin is known as a direct peer-to-peer (P2P) network that offers fast and low-cost transactions, similar to Bitcoin. HBAR, the native token of the Hedera Hashgraph network, can securely process thousands of transactions per second using a consensus algorithm called "hashgraph" instead of traditional blockchain. Both assets are among the top 30 cryptocurrencies by market capitalization.
Another significant development this week was the launch of the Bitwise Solana Staking ETF. Listed on the New York Stock Exchange under the ticker symbol "BSOL," the fund stands out as the first ETF with 100% direct exposure to spot Solana assets. In a statement, Bitwise stated, "Solana is now moving towards becoming a part of mainstream finance, and this is just the beginning." Kristin Smith, President of the Solana Policy Institute, said, "The launch of BSOL demonstrates that Solana is playing a critical role in the infrastructure of the digital economy."
Furthermore, the Grayscale Solana Trust ETF will begin trading on Wednesday. This will give the Solana ecosystem two distinct ETFs: one focused on staking and one in a traditional investment format. The SEC's announcement of these applications, even during the government shutdown, is being closely watched in the crypto industry. The listing standards approved by the regulator in previous weeks allow similar funds to launch more quickly.
Altcoin Prices Move
These developments for Solana, Litecoin, and HBAR have also led to price increases. At the time of writing, SOL appears to have risen from $197.74 to $204.34 in the last 24 hours. LTC gained 4 percent in the last 24 hours, and HBAR gained 14.79 percent.
