Analysts: Spot ETFs for cryptocurrencies like LTC and HBAR are nearing approval

ChainCatcher news reports that, according to market sources, a new filing regarding a trading platform exchange-traded fund (ETF) tracking HBAR has disclosed key details, with analysts suggesting this may indicate the fund is gradually approaching approval from the U.S. Securities and Exchange Commission (SEC).

On Tuesday, Canary Capital submitted a revised registration statement for its Canary HBAR ETF, disclosing its trading code as HBR and specifying a 0.95% sponsor fee. The company is also developing a Litecoin (LTC) ETF, with the trading code LTCC, which also has a sponsor fee of 0.95%. Bloomberg senior ETF analyst Eric Balchunas stated that these details are typically the last updates before a "formal launch." Compared to spot Bitcoin ETFs, a 0.95% fee is considered "high," but for assets that are just entering the ETF space and are becoming increasingly niche, such a higher fee is "quite normal." Bloomberg Intelligence analyst James Seyffart expressed a similar view: "It feels like the LTC and HBAR ETFs are nearing the finish line."