Skip to main content

These Two Altcoin ETFs Are About To Start Trading On NASDAQ – It’s Not XRP Or Dogecoin

Crypto reporter Eleanor Terrett shared that two new altcoin exchange-traded funds (ETFs) are about to start trading on the NASDAQ, beating out Dogecoin and XRP spot ETFs. According to the journalist, everything needed to begin trading is already in place, even though the government is in a shutdown. The legal rules allow these ETFs to go live without government staff needing to approve anything first, so the launches are still moving forward.

Litecoin And Hedera ETFs Begin Trading On NASDAQ

Terrett explained on X that Canary Funds’ spot Hedera (HBAR) and Litecoin (LTC) ETFs are now effective. She reported that these two altcoin ETFs will begin trading on the NASDAQ on Tuesday, according to Canary Capital CEO Steven McClurg. McClurg told Terrett in a statement that “Litecoin and Hedera are the next two token ETFs to go live after Ethereum.” He also said, “We look forward to launching tomorrow.”

Terrett shared this update after months of rising anticipation and waiting. The debut of these exchange-traded funds for Hedera (HBAR) and Litecoin (LTC) is now imminent, expanding crypto-based investment products into mainstream US markets. McClurg’s statement confirms the company’s excitement and readiness for the launch. Both ETFs will begin trading on NASDAQ on Tuesday, making them accessible to more traditional investors through regulated brokerage accounts.

Altcoin ETF Launches Move Ahead Even During Shutdown

Terrett also explained why these altcoin ETFs can move ahead during the government shutdown. She said that the operation of law does not always require an open government. The legal process behind ETF launches continues even when some parts of the government are closed.

She explained that, in her view, 8-A filings are just as crucial as S-1 filings for an ETF launch. The 8-A filings formally register ETF shares under the 1934 Act so they can trade on an exchange, and the S-1 filings register them under the Securities Act of 1933. 

As mentioned by Terrett, the New York Stock Exchange (NYSE) certified all the 8-A filings for the altcoin ETFs. She said this is the final step before shares can start trading. The issuers also added language in their amended S-1 filings that allows the ETFs to become effective automatically 20 days after filing. The SEC does not need to manually approve them, as S-1 filings can go live on their own, even during the government shutdown.

Terrett also noted that the shutdown pushed back earlier decision deadlines, but now all legal boxes are checked, so the altcoin ETFs are still on track for launch. 

Additionally, she also highlighted that Bloomberg ETF expert Eric Balchunas confirmed the listing notices from the exchange. He said that the NYSE posted listing notices for Bitwise Solana, Canary Litecoin, and Canary HBAR, launching on Tuesday, and for Grayscale’s GSOL, converting on Wednesday. According to the Bloomberg analyst, everything looks ready now, unless there is a last-minute SEC intervention.

Litecoin price chart from Tradingview.com (Altcoin ETFs)

from Bitcoinist.com https://ift.tt/bIxe3Oa
Labels:

Comments

Post a Comment

Popular posts from this blog

Bitcoin Remains Range-Bound As Volatility Declines – Analyst Explains Price Action

Bitcoin has experienced frustrating price action in recent weeks, leaving investors impatient about its short-term direction. The price has been testing crucial supply levels between $98K and $100K, struggling to break out as uncertainty dominates the market. The lack of a clear move has led to speculation about whether BTC is preparing for a breakout or another correction. Adding to the uncertainty, the market was hit by negative news on Friday when crypto exchange Bybit was hacked, resulting in the theft of $1.4 billion in ETH. The incident caused fear and volatility, briefly dragging prices lower. However, Bybit responded quickly to reassure investors, easing some of the initial panic and stabilizing the market. Despite this, Bitcoin continues to consolidate in a tight range. Crypto expert Daan shared an analysis on X, noting that BTC is still ranging while volatility is steadily decreasing. As price compression increases, traders are on high alert for a potential explosive move....
Post a Comment
Read more

Ethereum On Exchanges Crashes To Historic Low Amid Market Volatility, A Bullish Signal For Price?

Ethereum saw a bounce back above the $3,000 price market , with bullish sentiment gaining momentum among investors, especially those on centralized exchanges. Even with the market experiencing sideways movements, the overall supply of ETH on crypto exchanges has fallen sharply, hitting unprecedented levels. Lowest Supply Of Ethereum On Exchanges Recent signals from on-chain metrics indicate that the Ethereum market environment is undergoing a quiet yet significant transformation. This unfolding trend is due to the sharp drop in the supply of ETH available on cryptocurrency exchanges. Related Reading: Ethereum Network Fatigue? Monthly On-Chain Transactions Drops As Activity Slows Down As reported by Coin Bureau on the social media platform X, ETH supply on centralized exchanges has hit levels not seen in years. With more holders choosing long-term storage, staking, and self-custody over keeping their assets available for trade, this significant supply drain indicates a change in i...
Post a Comment
Read more

Past Performances Say Dogecoin Price Could Blast 200% To Clear $0.73 ATH Soon

The Dogecoin price could be getting ready for a fresh bullish wave as a crypto analyst projects a surge to new all-time highs . The analyst cites past performances as a reason for this bullish projection, highlighting the Dogecoin price action from previous bull cycles.  Dogecoin Price Past Performance To Push It Above $0.73 Crypto analyst Javon Marks took to X (formerly Twitter) on February 22 to share a bullish prediction of the Dogecoin price. The analyst highlighted past bull market performances to support his forecast, predicting that DOGE could soon rally above its current all-time high of $0.73905. In his chart, Marks revealed Dogecoin’s price action during the 2016/2017 bull run and the 2020/2021 bull market. In both cycles, DOGE seemingly experienced a rapid price crash, following a descending price channel . However, after a long period of consolidation, it recorded a massive price rally that triggered an ATH breakout to $0.00232 in 2018. During the 2021 bull marke...
Post a Comment
Read more