Bitwise, Canary to list first U.S. Solana, Litecoin, HBAR ETFs
Bitwise Asset Management and Canary Capital will introduce the first U.S. exchange-traded funds tied to Solana, Litecoin and Hedera on Tuesday. Bitwise’s Bitwise Solana Staking ETF (BSOL) will list on the New York Stock Exchange Arca, while Canary’s Litecoin ETF and HBAR ETF will begin trading on Nasdaq.
Bitwise describes BSOL as providing 100% direct exposure to spot Solana (SOL), one of the largest digital assets by market value. Canary’s products are the first U.S. ETFs tied to Litecoin (LTC) and Hedera (HBAR).
Litecoin is designed for fast, low‑cost peer‑to‑peer payments and operates similarly to bitcoin. HBAR is the native token of Hedera, a public network that uses the Hashgraph consensus algorithm for high‑throughput transactions. Both assets rank within the top 30 cryptocurrencies by market capitalization.
Dave Nadig, head of research at ETF.com, observed that "the standardized listings give the whole industry plenty of room" to roll out new products. Kristin Smith, president of the Solana Policy Institute, stated:
Another Solana product, the Grayscale Solana Trust ETF, is slated to begin trading on October 29. Recent guidance from the agency allows issuers to file an S‑1 registration statement without a delaying amendment; if the filing is final, a fund can become effective after 20 days.
In mid‑September, the SEC also approved generic listing standards for certain commodity-based trust shares on multiple exchanges, enabling crypto ETFs that meet those criteria to list without product-specific approvals.
As GNcrypto wrote previously, filings accelerated as well, with Bitwise pursuing a Hyperliquid HYPE spot ETF and a Stablecoin & Tokenization ETF, and VanEck, 21Shares and Grayscale submitting applications for spot SOL and XRP funds.
Dave Nadig, head of research at ETF.com, observed that "the standardized listings give the whole industry plenty of room" to roll out new products. Kristin Smith, president of the Solana Policy Institute, stated:
"The launch of the first spot Solana ETP in the US, BSOL, demonstrates broad recognition of Solana’s role as critical financial infrastructure for the future of the digital economy."
In mid‑September, the SEC also approved generic listing standards for certain commodity-based trust shares on multiple exchanges, enabling crypto ETFs that meet those criteria to list without product-specific approvals.
As GNcrypto wrote previously, filings accelerated as well, with Bitwise pursuing a Hyperliquid HYPE spot ETF and a Stablecoin & Tokenization ETF, and VanEck, 21Shares and Grayscale submitting applications for spot SOL and XRP funds.
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