So, the U.S. market is finally about to roll out its very first spot ETFs for Solana, Litecoin, and Hedera. Because, apparently, we needed more ways to watch our digital coins go from promising to potentially profitable-if the SEC ever stops playing hard to get. These magical funds are cooked up by Bitwise, Canary Capital, and Grayscale, and are set to make their debut today and tomorrow on Nasdaq and NYSE. Because nothing says “trustworthy investment” like a filing that’s been flying through bureaucracy faster than you can say “regulatory loophole.”
Legal Loophole and Market Reaction: The Plot Thickens
Apparently, the final tap of approval was just a formality-the sort of thing you can get away with when the government is temporarily on vacation. Eleanor Terrett on X (formerly Twitter, for those of us still trying to keep up with the social media kaleidoscope) wrote that Nasdaq certified these ETFs with a Form 8-A, which, according to the insiders, is just bureaucratic speak for “please, can we start trading now?” The ETFs-Canary’s HBAR and Litecoin, and Bitwise’s Solana staking-are all set to launch in the next 48 hours, because who needs tedious things like SEC approval when you have loopholes?
And wouldn’t you know it, all this is happening even as some parts of the government take a well-earned break. The issuers cleverly used a legal provision that lets registration statements go into effect automatically after 20 days-because who has the patience for waiting in lines or real approval, right? Bloomberg’s James Seyffart and Eric Balchunas looked at this whole charade and nodded approvingly, calling it the “final step before shares can start trading,” making it sound like a peaceful walk in the park instead of a bureaucratic obstacle course.
On the markets, some traders couldn’t help but debate whether this was really a milestone or just the beginning of many more hoops to jump through. One X user warned that “there are still steps to take after submitting the 8-A,” while others popped champagne and cheered for “crypto clarity”-a phrase that, frankly, sounds suspiciously optimistic for the current state of affairs. Meanwhile, Bitwise boasts that its Solana ETF offers 100% direct SOL exposure with no management fees for a limited time-because who doesn’t want to stake their claim with a bit of freebie magic?
And What’s Next? The Plot Thickens
This move is part of a broader, more enthusiastic wave of altcoin ETF filings-so many, in fact, that Bloomberg counts over 150 filings for 35 different cryptos. Solana and Bitcoin are leading the pack, each with 23 filings, while XRP and Ethereum aren’t far behind. It’s basically the crypto equivalent of the kitchen trying to shove every flavor of cereal into the pantry, with hopes that some of it might stick.
Financial analysts are already imagining how this will reshape traditional investing-though most investors probably prefer a diversified index fund over single-token circus acts. But hey, if nothing else, it’s good for a laugh or a nervous twitch. Buckle up-whether these ETFs are the beginning or the end of “crypto as the new normal,” only time will tell. Or maybe the SEC, if they decide to finally show up for the party.
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2025-10-28 12:37