Canary Capital has filed amended S-1 forms for its proposed spot Litecoin (LTC) and Hedera (HBAR) exchange-traded funds (ETFs), finalizing key details such as tickers and fees. The Litecoin ETF will trade under the ticker LTCC, while the Hedera ETF will use HBR, both charging a 0.95% sponsor fee. This fee is higher than the 0.2%–0.5% range typical for spot Bitcoin ETFs but is considered standard for niche digital asset products.
The filings, submitted on October 7, 2025, include arrangements for custody with regulated providers like BitGo and Coinbase, and net asset values will be calculated daily at 4 p.m. ET using data from multiple exchanges. Despite the U.S. Securities and Exchange Commission (SEC) missing its original decision deadline due to limited operations during the government shutdown, analysts view these amendments as the last step before go-time. Bloomberg ETF analyst Eric Balchunas described the updates as comprehensive, noting that while the fee is pricey, it's common for first-of-its-kind funds. Fellow analyst Seyffart added that the ETFs are at the goal line—victory in sight, with approval odds exceeding 90% once the SEC resumes normal functions.
Background details reveal that the HBAR ETF traces back to an initial filing in November 2024, preceded by a private trust for accredited investors, while the Litecoin ETF entered the SEC's review cycle in early 2025. Nasdaq has already filed corresponding 19b-4 forms to list both funds, indicating strong institutional readiness. Canary Capital is positioning itself as an early mover in the altcoin ETF space, with additional filings for XRP and Solana spot ETFs in progress. Across the market, over 90 crypto ETF proposals remain pending, and if approved, the Litecoin and HBAR ETFs could mark a new phase in institutional crypto adoption, offering exposure beyond Bitcoin and Ethereum.