Українська
Русский
English
Solana, Litecoin, and Hedera ETFs to Begin Trading Today
A new wave of crypto ETFs may be hitting the market this week. Exchange-traded funds for Solana (SOL), Litecoin (LTC), and Hedera (HBAR) have appeared on U.S. exchange listings ahead of their scheduled launch on Tuesday.
According to Bloomberg analyst Eric Balchunas, listing notices were filed for a Solana ETF by Bitwise and Litecoin and Hedera ETFs by Canary. The launches are planned for Tuesday.
In a post on X (formerly Twitter) on Monday, Balchunas added that the Grayscale Solana Trust is expected to be converted into an ETF the following day.
A crypto ETF is an exchange-traded fund that allows investors to gain exposure to digital assets — such as Bitcoin or Solana — without directly holding or managing the coins themselves.
The approval process for crypto ETFs in the U.S. stalled after the government shutdown on October 1, though the SEC continues to operate in a limited capacity.
The SEC approved the first spot Bitcoin ETFs in the U.S. on January 10, 2024, paving the way for listings and trading from issuers including BlackRock, Grayscale, Bitwise, ARK 21Shares, WisdomTree, Fidelity, Valkyrie, VanEck, Hashdex, Franklin Templeton, and Invesco Galaxy.
As reported in September, up to 16 ETFs awaited SEC approval in October, covering altcoins such as Solana (SOL), Litecoin (LTC), Hedera (HBAR), and Dogecoin (DOGE).
Solana Staking ETFs
Staking, which involves locking up cryptocurrency to help secure a proof-of-stake blockchain like Solana while earning rewards in the same token, has become one of the hottest crypto topics this year.
In July, the REX-Osprey Solana Staking ETF debuted on the Cboe BZX exchange, becoming the first staking-enabled crypto ETF approved in the United States.
Grayscale recently added staking functionality to its Solana Trust after the SEC clarified in September that certain staking activities do not constitute securities offerings.
The Bitwise Solana ETF, expected to be approved on Tuesday, will also include staking features.
According to Thomas Um, COO of Jito (JTO) — a Solana-based liquid staking and MEV protocol — the approval of Solana ETFs is only the beginning.
See also: "Bitcoin Awaits Its Next Move — AI Predicts Where the Price Could Go"
