Crypto markets anticipate a fresh wave of exchange-traded fund (ETF) launches this Tuesday, featuring prominent assets Solana, Litecoin, and Hedera. Bloomberg analyst Eric Balchunas reported that US exchanges have officially listed Bitwise’s Solana ETF alongside Canary’s Litecoin and Hedera funds, signaling imminent market debuts. This development follows Grayscale’s move to convert its Solana Trust into an ETF, as noted by Balchunas.
ETFs provide investors with an accessible pathway to engage with cryptocurrencies like Bitcoin and Solana without the complexities of directly holding the underlying assets. Despite recent federal government shutdowns impacting the approval cadence for crypto ETFs, the SEC continues to operate on a limited basis.
The SEC’s landmark approval of the inaugural US spot Bitcoin ETFs earlier this year paved the way for a diversified lineup of ETFs managed by industry leaders including BlackRock, Grayscale, Bitwise, and Fidelity, among others. A robust queue of up to 16 ETFs spanning various altcoins—SOL, LTC, Dogecoin—awaits further approvals.
One of the year’s key narratives centers around staking — locking up tokens to support proof-of-stake blockchains and earn rewards. The REX-Osprey Solana Staking ETF, launched in July, became the pioneering staking ETF in the US, with Grayscale and Bitwise incorporating staking features into their Solana-related products.
Thomas Uhm, COO of Jito, emphasized that these ETF approvals mark only the beginning, citing ongoing collaborations with leading investment banks aimed at innovating products and strategies anchored on staked Solana options.
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