Canary’s Litecoin, HBAR ETFs Hit “Go-Time” Status as Shutdown Stalls SEC Action

Canary Capital’s Litecoin ETF and HBAR ETF moved to final S-1 stages, with fees and tickers in place.

Analysts, including Eric Balchunas, described the updates as the last step before “go-time.”

However, the U.S. government shutdown restricts SEC reviews, so effectiveness and exchange listings wait.

Litecoin ETF filings: Litecoin ETF details, S-1 status, and next steps

Canary updated the Litecoin ETF registration with final disclosures. The S-1 shows the product structure and sponsor economics. The filing also reserves a Litecoin ETF ticker for trading once effective.

The Litecoin ETF includes a stated annual fee. The S-1 places that fee with other sponsor costs. These entries are typical late-stage items before launch.

Analysts pointed to the Litecoin ETF update as a near-final sign. Eric Balchunas highlighted fees and ticker additions as late checklist items.

He framed the Litecoin ETF as ready once the SEC resumes normal operations.

HBAR ETF filings: HBAR ETF structure, Hedera exposure, and timing

Canary filed a parallel HBAR ETF amendment. The S-1 outlines exposure to Hedera (HBAR) via a grantor trust format. The document also notes custody, creation, and redemption mechanics.

The HBAR ETF lists the same sponsor fee model. It also reserves a HBAR ETF ticker for listing. These details align both products on the same procedural track.

As with the Litecoin ETF, analysts called the HBAR ETF “near ready.” Eric Balchunas and peers used “go-time” language for both. They tied readiness to the end of the shutdown and routine SEC processing.

Government shutdown effect: SEC staffing, effectiveness, and listings

The government shutdown reduces SEC staffing under its lapse plan. Divisions that review S-1 filings cannot run normal processes. Therefore, registration effectiveness moves slower.

Because EDGAR remains open, issuers can still file S-1 updates. Yet effectiveness generally needs available SEC staff. As a result, the Litecoin ETF and HBAR ETF pause at the finish line.

Exchanges also depend on the SEC calendar. Listing actions for the Litecoin ETF and HBAR ETF follow effectiveness. Thus, the shutdown holds the entire sequence in place.

Generic listing standards: crypto ETP rules, exchanges, and practical impact

In September, the SEC approved generic listing standards for commodity-based trust shares. Qualifying spot crypto ETPs can list if they meet objective criteria. This reduces the need for one-off 19b-4 approvals.

For venues like NYSE Arca, Nasdaq, and Cboe, the standards give a common playbook. The rules focus on asset eligibility, pricing sources, and surveillance. They streamline steps for plain-vanilla structures.

The new standards set a clearer backdrop for the Litecoin ETF and HBAR ETF. Canary’s filings fit within this rule set.

Once the SEC reopens fully, exchanges can apply the standards to list the products.