Canary Capital is on the verge of securing approval for its exchange-traded funds (ETFs) focused on Litecoin and Hedera (Hedera Hashgraph). However, the ongoing US government shutdown casts uncertainty over the approval timeline, raising questions about the future of these financial products. The source notes that this situation could delay the launch of these ETFs significantly.
Amendments to Litecoin and Hedera Spot ETFs
The firm has submitted amendments to its Litecoin (LTC) and Hedera (Hedera Hashgraph) spot ETFs, which notably include a fee adjustment aimed at making the funds more competitive. Despite the filings appearing to be finalized, analysts from Bloomberg caution that the limited operations of the SEC during the government shutdown could lead to delays in the approval process.
Potential Impact on Altcoin Market
If the ETFs receive the green light, they have the potential to spark a new rally in altcoins, attracting significant investor interest. However, the landscape may become increasingly competitive, as other issuers are also looking to launch similar products with lower fees. This could impact Canary Capital's market position.
