The cryptocurrency market ushers in a major positive development: multiple mainstream coin spot ETFs are about to go live

According to reports by cryptocurrency journalist Eleanor Terrett, significant breakthroughs have been achieved at the U.S. securities regulatory level. Despite the potential risk of a federal government shutdown, this has not hindered the progress of crypto ETF products.

**Canary Funds' Coin ETFs Receive Official Approval**

Canary Funds' spot ETFs for Litecoin (LTC) and Hedera (HBAR) have received compliance certification and are scheduled to be listed on Nasdaq tomorrow. As of now, LTC is trading around $76.69, with a 24-hour decline of 0.90%, while HBAR is fluctuating at $0.11, down 0.28%. The market caps of these two projects are $5.88B and $4.76B respectively, demonstrating ongoing market interest in these ecosystems.

**Solana Ecosystem ETF Quickly Follows**

Meanwhile, the New York Stock Exchange (NYSE) has officially accepted the Form 8-A filing submitted by Bitwise for the Solana (SOL) spot ETF, and GrayScale's GSOL conversion ETF product has also been approved. These two products are scheduled to launch tomorrow and the day after, respectively, likely attracting significant participation from institutional and retail investors. Currently, SOL is priced at approximately $122.06, with a 24-hour decline of 1.35%, and a circulating market cap of $68.68B, ranking among the industry leaders.

**Operational Logic Behind Policy Breakthroughs**

The key to these ETFs passing approval smoothly lies in the clever legal techniques used by the issuers. They added an "automatic effective date clause" in the revised S-1 registration statement, allowing the product to automatically proceed with the registration process without requiring explicit approval from the U.S. SEC. Meanwhile, the completion of the Form 8-A enables Solana-related ETF products to follow the procedures mandated by the Securities Exchange Act of 1934, paving the way for trading to go live.

This wave of changes marks a shift in the U.S. regulatory attitude toward crypto asset ETFization, injecting new vitality into the entire ecosystem.