CMC News

$LTC and $HBAR ETFs Near Approval

Canary Capital filed key amendments for its $LTC and $HBAR exchange-traded funds on Tuesday, signaling potential approval despite the government shutdown.

The asset manager submitted updates adding a 0.95% fee structure and tickers "LTCC" for its Canary $LTC ETF and "HBR" for its Canary HBAR ETF. Bloomberg ETF analyst Eric Balchunas noted these additions typically represent the final updates before launch.

Balchunas posted on X Tuesday that the filings "look pretty finalized to me," though the U.S. government shutdown and Securities and Exchange Commission operating with minimal staff make approval timing uncertain.

Fellow Bloomberg analyst James Seyffart agreed the amendments indicate imminent approval, stating it "feels like Litecoin and #HBAR ETFs are at the goal line here."

The 0.95% fees exceed spot $BTC ETF averages of 0.15% to 0.25%, but Balchunas characterized this as normal for new and increasingly niche areas. He suggested other issuers might undercut Canary with cheaper products if the ETFs attract decent flows and investor interest.

Despite the shutdown, companies continue to file new ETF applications with a focus on 3x leverage funds. ETF issuer Tuttle Capital filed for 60 new 3x ETFs, while GraniteShares submitted applications holding various assets including $BTC and $ETH.