Bitwise launches the first SOL ETF as LTC and also debuts HBAR Funds

Bitwise is preparing to debut its Solana Staking ETF (exchange-traded fund) on the New York Stock Exchange (NYSE) today, with Canary Capital set to list the Litecoin and Hedera funds.

The Bitwise SOL ETF, trading under the ticker BSOL, will be the first US product to provide 100% direct exposure to the fund manager’s invested SOL said in a post on X. It added that it will temporarily waive fees and focus on wagering rewards of around 7%.

“Solana is on its way to the mainstream – and we think this is just beginning,” said Bitwise. “We believe Solana is an important platform for bringing capital markets into the chain and is perfectly positioned for this moment.”

The Canary Capital Litecoin (LTC) and Hedera (HBAR) ETFs are also launching today, while Grayscale’s Solana ETF is expected tomorrow.

Crypto ETF Launch Continues Even As US Government Shutdown Continues

The launches come as the US government shutdown continues and agencies such as the Securities and Exchange Commission (SEC) are operating with reduced staff.

SEC Guidance Regarding Shutdown Operations (Source: X)

The moves by Bitwise and the other companies surprised analysts following SEC guidance earlier this month, which said it would not approve certain applications while the government shutdown continues.

The crypto ETFs faced deadlines for final decisions earlier this month, but the shutdown slowed the process.

Recent listing reports indicate that issuers are launching their products under the newly announced generic listing standards or taking advantage of other mechanisms that allow them to accelerate their launches without having to first obtain SEC approval.

Under the generic listing standards, companies that do not want to wait for SEC approval must comply with the listing standard. These companies also need a final S-1 registration statement and a Form 8-A.

Bloomberg ETF analyst James Seyffart said the launches during the shutdown could have something to do with the wording in recent guidance issued by the SEC in the form of a question-and-answer session.

NEW: YES… We expect Solana, Litecoin and HBAR to get their first pure spot ETFs here in the US this week, as reported. But how did this happen? Almost certainly because of the language in a cover letter from the SEC’s corporate finance division, which came in the form of… pic.twitter.com/WdswvuHh2n

— James Seyffart (@JSeyff) October 27, 2025

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