Bitwise to Launch First SOL ETF as LTC, HBAR Funds Also Debut

Bitwise is preparing to launch its Solana Staking spot 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 U.S. product offering 100% direct exposure to staked SOL, the fund manager said in an article on X. He added that it would temporarily waive fees and target staking rewards of around 7%.

“Solana is heading to the mainstream and we think it’s just getting started,” Bitwise said. “We believe Solana is a key platform for enabling capital markets to go on-chain and is perfectly positioned for this moment.”

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

Crypto ETF Launches Continue Even as US Government Shutdown Persists

These launches come even as the U.S. government shutdown persists and agencies such as the Securities and Exchange Commission (SEC) operate with reduced staff.

SEC Guidelines for Going Private Transactions (Source: X)

The moves by Bitwise and other companies surprised analysts after guidance from the SEC earlier this month that it would not approve certain apps as long as the government shutdown continues.

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

Recent listing notices suggest that issuers launch their products under the recently announced generic listing standards or take advantage of other mechanisms that allow them to accelerate their launches without the need to first receive SEC approval.

Under the generic listing standards, companies that do not wish to wait for SEC approval must comply with the listing standards. These businesses will also need a final S-1 registration statement and Form 8-A.

Bloomberg ETF analyst James Seyffart said the launches during the shutdown may have something to do with the language used in recent guidance issued by the SEC in the form of a question-and-answer session.

NEW: YES… We expect Solana, Litecoin and HBAR to get their first pure cash ETFs here in the US this week, as has been reported. But how did this happen? Almost certainly due to the wording of a guidance letter from the SEC’s Division of Corporate Finance, presented in the form of… pic.twitter.com/WdswvuHh2n

–James Seyffart (@JSeyff) October 27, 2025

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