Canary Capital’s Litecoin, HBAR ETFs Approved for Nasdaq Listing
Canary Capital Group has filed with Nasdaq to register shares for two cryptocurrency exchange-traded funds (ETFs), specifically for Litecoin and HBAR. These ETFs are structured as Delaware statutory trusts.
- The filings were made using Form 8-A under Section 12(b) of the Securities Exchange Act of 1934.
- These registrations become effective based on certain conditions, including filing completion, Nasdaq certification, or related Securities Act registration effectiveness.
- Nasdaq has approved the applications for listing both ETFs.
- Both ETFs have received recent S-1 amendments, with the Litecoin ETF initially filed on October 15, 2024, and the HBAR ETF on November 12, 2024.
ETF Approval Timeline and Market Context
- The submissions align with upcoming altcoin ETF deadlines in October.
- The SEC has recently withdrawn delay notices for multiple cryptocurrency ETF proposals, reflecting a regulatory shift following approvals for generic crypto ETF listing standards.
- Canary Capital is among several firms awaiting SEC decisions on spot XRP ETF applications and similar products for other cryptocurrencies.
- The SEC needs to declare the respective S-1 statements effective before trading can commence on Nasdaq, while market manipulation concerns remain part of their review process.