Multiple altcoin-focused cryptocurrency exchange-traded funds (ETFs) are scheduled to begin trading this week, marking a significant expansion beyond Bitcoin and Ethereum products. Bitwise's Solana Staking ETF and Canary Funds' Litecoin and HBAR ETFs are set to launch, with specific timelines: Canary's LTC and HBAR ETFs will start trading on October 28, 2025, on Nasdaq, while Bitwise's SOL ETF follows on the same day. Grayscale's Solana fund (GSOL) is expected to convert into an ETF on October 29, 2025, pending final approval from the U.S. Securities and Exchange Commission (SEC).
The New York Stock Exchange (NYSE) has approved 8-A filings for Bitwise's SOL ETF and Grayscale's conversion, enabling listing. This shift to altcoin ETFs is highlighted by Bloomberg senior ETF analyst Eric Balchunas, who notes it reflects growing investor demand for diversified crypto exposure. Canary Funds CEO Steven McClurg emphasized, "After Ethereum ETFs, Litecoin and Hedera will be the next token ETFs. We are ready to launch tomorrow."
Regulatory hurdles remain, as the SEC's stance on altcoin funds is under scrutiny, but automatic effectiveness clauses in S-1 filings allow the launches to proceed despite the government shutdown. These ETFs could attract institutional investors and provide regulated access to altcoins, potentially reshaping the crypto investment landscape.
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