Canary Capital’s CEO Confirms Spot Hedera And Litecoin ETFs Will Begin Trading Tomorrow
Analysis
Price Impact
HighThe launch of spot hedera (hbar) and litecoin (ltc) etfs signifies a major step towards institutional adoption and increased liquidity. etfs provide traditional investors with a regulated and accessible way to gain exposure to these cryptocurrencies, potentially driving significant capital inflow.
Trustworthiness
HighConfirmed by canary capital's ceo, steven mcclurg, and corroborated by reputable crypto reporter eleanor terret and bloomberg's etf expert eric balchunas. the article details legal processes, 8-a filings, and automatic effectiveness provisions, indicating a high level of verified information and expert review.
Price Direction
BullishThe launch of spot etfs is historically a bullish catalyst for cryptocurrencies as it opens doors for broader investment, reduces market entry barriers, and legitimizes the asset class. increased demand from institutional investors through these vehicles is expected to drive prices up for both ltc and hbar, as already seen by initial price recoveries.
Time Effect
LongWhile there might be short-term pumps around the launch, the fundamental impact of etfs is long-term. they provide a sustained avenue for institutional capital, leading to more stable and prolonged demand for the underlying assets.
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Article Content:
Reason to trust Strict editorial policy that focuses on accuracy, relevance, and impartiality Created by industry experts and meticulously reviewed The highest standards in reporting and publishing How Our News is Made Strict editorial policy that focuses on accuracy, relevance, and impartiality Ad discliamer Morbi pretium leo et nisl aliquam mollis. Quisque arcu lorem, ultricies quis pellentesque nec, ullamcorper eu odio. After months of growing uncertainty and anticipation, the debut of exchange-traded funds (ETFs) for Hedera (HBAR) and Litecoin (LTC) is set to commence tomorrow, as confirmed by Canary Capital’s CEO Steven McClurg on Monday. Hedera And Litecoin ETF Launches Imminent Crypto reporter Eleanor Terret shared the news on X (formerly Twitter), revealing that the ETF launches for Litecoin and Hedera are imminent, with a statement from McClurg underscoring the excitement for the upcoming launch. Related Reading Crypto Analyst Shows The Possibility Of The Ethereum Price Reaching $16,000 3 hours ago Notably, the New York Stock Exchange (NYSE) has also made significant moves in the ETF sector by certifying 8-A filings and issuing listing notices for Bitwise Invest’s spot Solana (SOL) ETF launch tomorrow and Grayscale’s GSOL conversion slated for Wednesday. Despite the ongoing government shutdown, these ETF debuts are proceeding smoothly, Terret confirmed. The legal processes behind ETF launches, including the crucial 8-A filings, have been completed successfully, paving the way for the launch of these investment vehicles. ETF Listings Confirmed Addressing concerns about Securities and Exchange Commission (SEC) approval during the shutdown, a key detail emerged: the issuers strategically included provisions in their amended S-1 filings, enabling automatic effectiveness 20 days post-filing. This ensures a seamless transition to trading without manual SEC approval. Related Reading ETF Delays Shake Market Confidence, But XRP’s Volume Spike Supports a $2.9 Bullish Signal 33 minutes ago Bloomberg’s ETF expert, Eric Balchunas, further corroborated this development on social media, confirming the listing notices for Bitwise, Canary, to launch imminently, with grayscale Solana’s conversion scheduled shortly after. Balchunas stated, “Assuming there’s not some last min SEC intervention, looks like this is happening.” The daily chart shows LTC’s attempt to break the current consolidation phase. Source: LTCUSDT on TradingView.com The news has sparked a recovery in HBAR and LTC prices. Litecoin has regained the key $100 mark with a 2% surge in the 24-hour time frame, while Hedera has seen similar gains of 2.1% during the same period. Featured image from DALL-E, chart from TradingView.com