Altcoin spot ETFs set to start trading on major U.S. exchanges

Issuers of newly registered exchange-traded funds tied to Solana, Litecoin and Hedera said their products will begin trading this week on major U.S. exchanges, marking the first wave of spot altcoin ETFs to reach U.S. markets. Bitwise, Canary Capital and Grayscale filed the final documents needed to list their funds and the Nasdaq and NYSE certified exchange registration, allowing Canary’s Litecoin and HBAR ETFs and Bitwise’s Solana Staking ETF to start trading on Oct. 28, with Grayscale’s Solana trust scheduled to convert to a spot ETF the following day.

Fund sponsors and industry officials said the launches are proceeding despite a U.S. government shutdown because the issuers used a provision of securities law that lets registration statements filed on Form S-1 become effective automatically after 20 days if no delaying amendment is filed. Exchanges then certified the required Form 8-A filings to register the ETF shares for public trading, a step sponsors called the final administrative clearance. Issuers and market analysts described the process as unusual but legally permissible, and said they do not expect last-minute regulatory intervention.