Crypto ETFs Sneak Past Shutdown Shenanigans! 🚀😲

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Oh, what a jolly pickle the world of cryptocurrencies finds itself in this week, with exchange-traded funds-those shiny little investment trinkets based on Solana (SOL), Litecoin (LTC), and Hedera (HBAR)-poised to burst onto the trading floor as early as Tuesday, government shutdown or no. As if the bureaucrats’ squabbles could stop the mad dash for digital gold! 😂

A Gigantic Week for Crypto’s Shiny Toys

On a drizzly Sunday evening, one Nate Geraci, a fellow who knows his ETFs from his elbow, declared with a wink that the coming fortnight would be positively electric for those long-suffering spot crypto funds. Solana, XRP, LTC, and a gaggle of others were all lined up like eager schoolchildren, ready to launch into the fray. “All set and raring to go,” he chortled, as if the whole affair were a grand picnic.

Not to be outdone, Bitwise’s boss, Hunter Horsley, dropped a sly hint that this week was shaping up to be a “Big week”-oh, the understatement! One suspects he’s eyeing his Solana Staking ETF with the gleam of a child spotting a mountain of chocolate. The crypto horde, you see, has been fidgeting like Willy Wonka’s Oompa-Loompas, waiting for the US Securities and Exchange Commission-that stern old gatekeeper-to stamp its approval on the flood of applications filed these past months. 🙄

Back in August and September, the regulators played their favorite game of delay, shoving decisions off by a pair of months, nudging the excitement into mid-October and November. But then, poof! The government shutdown slithered in on October 1, like a grumpy troll under a bridge, slashing hopes for a timely green light. How delightfully chaotic.

Monday morning brought fresh mischief from ETF whisperer Erich Balchunas, who buzzed that several issuers were itching to unleash their crypto contraptions this very week, shutdown be dashed. The Bloomberg sage revealed that Canary Capital had scribbled those crucial 8-A forms for spot Litecoin and Hedera ETFs, while Bitwise had one for its Solana Staking lark.

“These are the sneaky ones rumored to launch (along with Grayscale’s Solana) this week, despite the shutdown hullabaloo. Not quite in the bag, but preparations are afoot. Keep your eyes peeled,” Balchunas teased, as if sharing a secret recipe for invisible fudge.

Solana, Litecoin, and Hedera Steal the Spotlight

Before long, Balchunas confirmed the whispers: the exchange had plastered listing notices for Bitwise’s Solana Staking ETF, and Canary’s LTC and HBAR darlings, all set for October 28, with Grayscale’s Solana trust converting on Wednesday. “Barring a last-minute SEC swoop-like a hawk eyeing a mouse-it looks like the party’s on,” he added with a sarcastic grin. 🦅

Enter crypto scribe Eleanor Terret, who relayed the tale from Canary’s CEO, Steven McClurg, that very man affirming the spot HBAR and LTC ETFs would tango onto Nasdaq Tuesday. “Litecoin and Hedera are the next pair after Ethereum‘s big show,” McClurg beamed to the journalist. “We’re launching tomorrow-pip pip!”

Terret, ever the clever one, explained that the shutdown was no more than a paper tiger, for “the operation of law doesn’t always demand an open government.” How utterly British, as if queuing for tea amid a revolution! 🍵

Those 8-A forms, Terret noted, are as vital as the S-1s: the former enrolls ETF shares under the grand old Securities Exchange Act of 1934, while the latter handles the 1933 bit. With the NYSE rubber-stamping all on Monday, trading could commence forthwith.

“Here’s the cheeky bit: The issuers slipped in wording to their tweaked S-1s allowing automatic effectiveness 20 days post-filing. Usually, they twiddle thumbs for SEC blessing, but the law’s default is self-activation-no manual meddling needed. Thus, even in shutdown silliness, the ETFs tick along like clockwork toys. All boxes checked; launch imminent!”

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2025-10-28 11:23