Crypto Reporter Eleanor Terrett shared that two new Altcoin exchange-traded funds (ETFs) are about to start trading on the NASDAQ, outperforming the Dogecoin and XRP spot ETFs. According to the journalist, everything necessary to start marketing is already ready, despite the fact that the government is paralyzed. Legal regulations allow these ETFs to go live without government staff having to approve anything first, so the launches are still moving forward.
Litecoin and Hedera ETFs begin trading on NASDAQ
Terrett explained on X that Canary Funds’ Hedera (HBAR) and Litecoin (LTC) spot ETFs are now live. It reported that these two altcoin ETFs will begin trading on the NASDAQ on Tuesday. according to the general director of Canarias Capital Steven McClurg. McClurg told Terrett in a statement that “Litecoin and Hedera are the next two token ETFs to launch after Ethereum.” He also said: “We look forward to the launch tomorrow.”
Terrett shared this update after months of growing anticipation and waiting. The debut of these exchange-traded funds for Hedera (HBAR) and Litecoin (LTC) is now imminent, expanding cryptocurrency-based investment products in major US markets. McClurg’s statement confirms the company’s excitement and readiness for the launch. Both ETFs will begin trading on NASDAQ on Tuesday, making them accessible to more traditional investors through regulated brokerage accounts.
Altcoin ETF Launches Move Forward Even During Lockdown
Terrett also explained why these altcoin ETFs may move forward during government shutdown. He said the operation of the law does not always require open government. The legal process behind ETF launches continues even as some parts of the government are shut down.
He explained that, in his opinion, 8-A filings are just as crucial as S-1 filings. for the launch of an ETF. 8-A filings formally register ETF shares under the 1934 Act so they can be traded on an exchange, and S-1 filings register them under the Securities Act of 1933.
As Terrett mentioned, the New York Stock Exchange (NYSE) certified all 8-A filings for altcoin ETFs. He said this is the last step before the shares can begin trading. The issuers also added language in their amended S-1 filings that allows ETFs It will come into force automatically 20 days after its presentation. The SEC does not need to approve them manually, as S-1 filings can be triggered on their own, even during a government shutdown.
Terrett also noted that the shutdown delayed previous decision deadlines, but now all the legal boxes are checked, so the altcoin ETFs are still on track to launch.
In addition, he also highlighted that Bloomberg ETF expert Eric Balchunas confirmed the stock market’s listing notices. He saying that the NYSE published listing notices for Bitwise Solana, Canary Litecoin and Canary HBAR, which launched on Tuesday, and for Grayscale’s GSOL, which converted on Wednesday. According to the Bloomberg analyst, everything seems ready now, unless there is a last-minute decision. SEC intervention.
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