Bitwise To Launch First SOL ETF As LTC, HBAR Funds Also Debut

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Bitwise is set to debut the Solana Scking 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 symbol BSOL, will be the first US product to offer 100% direct exposure to SOL, the fund’s manager. He said in a post on X. It added that it would temporarily waive fees and target rewards of around 7%.

“Solana is going mainstream, and we think it’s just getting started,” Petwise said. “We believe Solana is a key platform for enabling on-chain capital markets and is ideally positioned for this moment.”

Canary Capital’s Litecoin (LTC) and Hedera (HBAR) ETFs will also launch today, while Grayscale’s Solana ETF is expected to launch tomorrow.

Crypto ETF Goes Forward Even as US Government Shutdown Continues

The launches come even as the US government shutdown continues and agencies like the Securities and Exchange Commission (SEC) operate under reduced staff.

SEC Guidance Regarding Decommissionings (Source: X)

The moves by Bitwise and other companies surprised analysts following guidance from the Securities and Exchange Commission earlier this month that said it would not approve some applications while the government shutdown continues.

Cryptocurrency ETFs faced final decision deadlines earlier this month, but the shutdown delayed the process.

Recent listing notices indicate that issuers are launching their products under newly announced public listing standards or are taking advantage of other mechanisms that enable them to accelerate their launches without having to seek SEC approval first.

Under the general listing standards, companies that do not want to wait for the SEC to sign off must meet the listing standards. These companies will also need a Final S-1 Registration Statement and Form 8-A.

The launches during the lockdown period may have to do with language in recent guidance issued by the SEC in question-and-answer format, said James Seyphart, a Bloomberg ETF analyst.

NEW: Yes… We expect Solana, Litecoin, and HBAR to reportedly get their first pure ETFs here in the US this week. But how did this happen? This is almost certainly due to the language in the guidance letter from the SEC’s Division of Corporate Finance that came in the form of… pic.twitter.com/WdswvuHh2n

– James Seyff (@JSeyff) October 27, 2025