Canary Capital, an asset management firm specializing in digital assets, announced the launch of two new exchange-traded funds (ETFs) tracking Litecoin (LTC) and Hedera (HBAR) on the Nasdaq, marking the first-ever U.S.-listed ETFs offering direct exposure to these cryptocurrencies.
?? LITECOIN ETF LTCC IS LIVE ??@CanaryFunds's Litecoin spot ETF has begun trading! Becoming the first-ever Litecoin ETF to be launched in the United States! Listed on the @NASDAQ under the ticker $LTCC!!!
?https://t.co/5emgoAVfIq pic.twitter.com/VaswZsrRqc
— Litecoin Foundation ⚡️ (@LTCFoundation) October 28, 2025
According to the company’s official statement, both funds (the Canary Litecoin ETF and the Canary Hedera ETF) began trading on Monday with management fees set at 0.95%, as detailed in Canary’s S-1 filing submitted in October.
The New York Stock Exchange (NYSE) has also posted listing notices for the two funds alongside several other crypto-linked ETFs, signaling continued expansion in the U.S. digital asset investment space.
Expanding Beyond Bitcoin and Ethereum
The listings represent the next phase in the broadening of U.S. crypto-based investment products, following the approvals of Bitcoin and Ethereum spot ETFs earlier this year.
The Litecoin ETF tracks the fifth-largest cryptocurrency by market capitalization, while the HBAR ETF offers exposure to Hedera Hashgraph, an enterprise-grade distributed ledger network recognized for its scalability and low transaction costs.
Today marks history as HBAR becomes the third ever crypto ETF to launch after Bitcoin and Ethereum.
To make this clear, out of the 19M+ cryptocurrency's that @CoinMarketCap tracks, it was the @CanaryFunds HBAR ETF that passed – citing @Hedera’s institutional-grade network ? pic.twitter.com/Rc5U6eX35M
— Hedera Foundation (@HederaFndn) October 28, 2025
Remarkably, the listings were made possible without formal approval from the U.S. Securities and Exchange Commission (SEC), thanks to an “automatic approval” mechanism available under existing regulatory procedures.
Industry filings show that the pathway relied on amended registration language, issuer Form 8-A filings, and CERT notifications, effectively enabling ETF launches under pre-cleared compliance channels.
Listed Despite U.S. Government Shutdown
The debut of these funds occurred amid the ongoing U.S. government shutdown, which has partially halted SEC operations. Under the SEC’s emergency contingency plan, only a limited number of staff are authorized to perform “essential functions,” including processing ETF-related actions. This exception allowed Canary’s products to move forward even as other regulatory functions remained suspended.
The developments coincided with the Bitwise Solana Staking ETF (BSOL) debuting on the NYSE the same day, while the Grayscale Solana ETF (GSOL) is set to begin trading on October 29.
Market participants were surprised by the wave of new ETF listings during the shutdown, as most analysts expected regulatory activity to stall.
Market Reaction and Outlook
In the lead-up to the launch, Litecoin (LTC) slipped 0.95%, while Hedera (HBAR) surged 10.31%, reflecting heightened volatility and pre-listing positioning.
The ETF rollout follows SEC guidance issued one week into the government shutdown, clarifying procedures for firms seeking to introduce crypto-based investment products without traditional approval channels.
Analysts say the Litecoin and Hedera ETFs signal a new era of digital asset diversification for U.S. investors and a pivotal moment for crypto integration into mainstream markets.
