Solana News Today: First Altcoin ETFs Begin Trading Tomorrow, Driving Institutional Adoption

Canary Capital's CEO Steven McClurg confirmed Monday that the firm's spot ETFs for Litecoin (LTC) and Hedera (HBAR) will begin trading on Nasdaq tomorrow, marking the first U.S. ETFs to directly track the altcoins, according to The Block. The announcement follows regulatory filings and industry speculation about a potential launch window amid a federal government shutdown that has delayed SEC approvals for crypto products, per Coinotag.

The ETFs, which filed Form 8-A registration statements with the SEC on October 7, 2025, are part of a broader surge in altcoin ETF applications, according to CryptoTimes. Eric Balchunas, Bloomberg's senior ETF analyst, noted in a social media post that the filings "join Bitwise's Solana ETF and are rumored to launch this week despite the shutdown," though he cautioned that no decisions are finalized, per a Crypto.news story. McClurg called the move "a landmark moment for the crypto industry," emphasizing Canary's role in expanding institutional access to digital assets.

Litecoin and HBAR have seen recent price gains amid ETF anticipation. LTC traded at $102.56 as of late October, up 2.42% in 24 hours, while HBAR rose to $0.18, reflecting a 2.39% increase, Coinotag reported. Both tokens hold market capitalizations above $7.7 billion, bolstered by growing institutional interest. The SEC's delayed review—pushed to November 8 for HBAR and originally October 2 for LTC—has created uncertainty, but industry experts like Nate Geraci of the ETF Institute predict approvals within two weeks for multiple altcoin ETFs, including XRP and Solana, according to a CryptoTimes expert piece.

The regulatory landscape shifted last week when the SEC issued guidance allowing firms to file S-1 registration statements without "delaying amendments," accelerating the approval process, The Block reported. This change enabled Canary to finalize its 8-A filings, a prerequisite for listing on Nasdaq. Meanwhile, competitors like Grayscale and Bitwise are also advancing Solana and Dogecoin ETF proposals, signaling a competitive race to capture altcoin investment demand.

Market analysts highlight the potential for these ETFs to drive liquidity and institutional adoption. HBAR's enterprise-focused hashgraph network and LTC's "digital silver" positioning make them attractive diversification tools for portfolios already exposed to Bitcoin and Ethereum, Coinotag noted. Post-approval, the ETFs could mirror the $64 billion inflow seen in Bitcoin ETFs and the $14 billion surge for Ethereum products since their launches, according to a Crypto.news article.

Despite the optimism, risks remain. The SEC's cautious oversight and the government shutdown's lingering impact on regulatory capacity could still delay launches. However, with multiple firms preparing for rapid deployment once approvals are granted, the altcoin ETF market appears poised for a transformative expansion.