Wave of New Crypto ETFs Could Hit U.S. Markets This Week

The U.S. crypto market may be on the verge of another major milestone as several new ETFs tied to digital assets are expected to debut this week. Solana, Litecoin, and Hedera (HBAR) funds have appeared in U.S. exchange listings ahead of a potential launch on Tuesday, signaling renewed institutional interest despite regulatory delays.

According to Bloomberg’s senior ETF analyst Eric Balchunas, listing notices have been posted for Bitwise’s Solana ETF and Canary’s Litecoin and Hedera ETFs. In an update shared on X, Balchunas also noted that Grayscale’s Solana Trust is expected to convert into an ETF the following day.

A crypto ETF allows investors to gain exposure to digital assets like Bitcoin, Solana (SOL), or Litecoin (LTC) without directly buying or storing the coins. These products are traded on regulated stock exchanges, making them accessible to a broader pool of traditional investors.

Renewed Momentum After Regulatory Delays

Progress on new crypto ETFs had slowed following the partial U.S. government shutdown on October 1, which temporarily disrupted several federal operations. Although the Securities and Exchange Commission (SEC) continues to function at limited capacity, it appears to be moving forward with key approvals.

The SEC’s landmark decision to approve the first U.S. spot Bitcoin ETFs on January 10, 2024, opened the floodgates for traditional financial firms to enter the crypto space. Those approvals allowed industry giants such as BlackRock, Grayscale, Bitwise, Fidelity, and Franklin Templeton to list and trade spot Bitcoin ETFs, fueling expectations that altcoin-based ETFs would soon follow.

In September, around 16 ETFs, including those tied to Solana, Litecoin, and Dogecoin, were awaiting SEC clearance. The latest listings suggest that approval for at least some of these funds is now imminent.

Solana ETFs and the Rise of Staking Products

One of the more notable developments is the inclusion of staking features within the new Solana ETFs. Staking involves locking up crypto assets to support a proof-of-stake blockchain, with investors earning rewards paid out in the same token.

In July, the REX-Osprey Solana Staking ETF became the first staking-based crypto ETF approved in the U.S., debuting on the Cboe BZX Exchange. Grayscale later introduced staking to its Solana Trust, following the SEC’s September clarification that certain staking activities do not qualify as securities offerings.

Bitwise’s proposed Solana ETF, which could receive approval this week, also includes staking components. This move is a step toward integrating decentralized finance (DeFi) practices with mainstream investment products.

If approved, these ETFs could mark the next phase in bridging traditional finance and the fast-evolving crypto ecosystem.