Solana News Today: Altcoin ETFs Defy SEC Delays, Eye Institutional Influx

The U.S. cryptocurrency ETF landscape is poised for a significant expansion as multiple asset managers prepare to launch exchange-traded funds (ETFs) for Solana (SOL), Litecoin (LTC), and Hedera (HBAR) this week, despite ongoing regulatory challenges. Bloomberg Senior ETF Analyst Eric Balchunas confirmed in a Monday tweet that exchanges have posted listing notices for Bitwise's Solana ETF and Canary Capital's Litecoin and Hedera funds, with launches slated for Tuesday, October 28, and Grayscale's Solana Trust conversion expected the following day, as reported by Cointelegraph.

The developments mark a pivotal moment for altcoin investments, which have historically faced stricter regulatory scrutiny compared to Bitcoin and Ethereum. Canary Capital filed Form 8-A with the SEC for its LTC and HBAR ETFs on October 7, joining Bitwise's Solana ETF filing and signaling accelerated industry momentum. These filings follow similar efforts by firms like Osprey and Grayscale, with the latter amending its Solana Trust to transition into an ETF. The SEC's recent guidance allowing S-1 filings without delaying amendments has enabled issuers to proceed despite a partial government shutdown, which has slowed regulatory reviews, according to Blockonomi.

Market data underscores the growing appeal of these altcoins. Litecoin trades at $102.56 with a $7.84 billion market cap, while Hedera is valued at $0.18 with $7.76 billion in market capitalization, according to CoinMarketCap as of October 2025. Both assets have shown resilience, with Litecoin's 24-hour trading volume rising 10.58% to $823.18 million and Hedera's enterprise adoption gaining traction. Analysts like Nate Geraci, co-founder of the ETF Institute, predict approvals for XRP, Solana, and Litecoin ETFs within two weeks, according to CryptoTimes, emphasizing the industry's readiness for a post-shutdown regulatory reset.

The NYSE's approval of Bitwise's Solana Staking ETF adds another layer of institutional credibility. The fund, which includes staking rewards and charges a 0.20% fee, is designed to track the Solana price and generate yields for investors. This aligns with broader trends, such as Grayscale's recent addition of staking to its Solana Trust and Hong Kong's approval of its first Solana spot ETF, which could catalyze global adoption.

Regulatory hurdles persist, however. The SEC's delayed decisions on Canary's LTC and HBAR ETFs—pushed to November 8—highlight the agency's cautious approach to altcoin products. Yet, industry experts argue that the SEC may expedite reviews post-shutdown to align with global trends and investor demand. Balchunas noted that while the October 28 launch is "not a done deal," the filings indicate "serious preparations" by issuers.

The potential approval of these ETFs could unlock billions in institutional capital, mirroring the influx seen after Bitcoin and Ethereum ETF approvals in early 2024. For retail investors, the products offer a regulated, accessible pathway to altcoin exposure, reducing barriers like wallet management and custody risks. As the market awaits final nods, the October 28-29 window has become a focal point for crypto's next institutional milestone.