Canary’s Litecoin, HBAR ETFs ready for ‘go-time’ after gov shutdown: Analysts

Canary Capital is nearing the approval of its Litecoin and Hedera exchange-traded funds (ETFs) after submitting final details, but a government shutdown may delay their launch. The ETF tickers are LTCC for Litecoin and HBR for HBAR, with management fees set at 0.95%. Analyst Eric Balchunas noted on social media that these updates typically indicate readiness for approval, suggesting that their launch is imminent once government operations resume. The ETFs could stimulate interest in altcoins, despite their fees being higher than typical Bitcoin ETF fees. However, Balchunas remarked that this is common for newly approved ETF segments. Even during the shutdown, there is a surge in applications for leveraged 3x ETFs, with firms like ProShares and GraniteShares submitting multiple applications despite past SEC hesitations regarding highly leveraged crypto ETFs. Analysts estimate that there are around 250 new 3x ETF filings, driven by the potential profitability of these products. The crypto market awaits the SEC's decisions, which were previously expected amidst new listing standards, although the shutdown has currently stalled these processes.

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