First Hedera and Litecoin ETFs approved: HBAR and LTC prices take off – Crypto News – Crypto News
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First Hedera and Litecoin ETFs approved First Hedera and Litecoin ETFs approved

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First Hedera and Litecoin ETFs approved: HBAR and LTC prices take off – Crypto News

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8 months ago

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  • Canary Capital’s HBAR and LTC ETFs approved for launch on Nasdaq.
  • The ETF approvals have sparked bullish momentum for Hedera and Litecoin prices.
  • Institutional interest in Hedera has also grown significantly with new global partnerships.

The long-awaited approval of the Hedera ETF and Litecoin ETF has arrived, marking a pivotal moment for both assets.

With trading set to begin on the Nasdaq, investor enthusiasm has driven renewed interest in HBAR and LTC, sending prices higher as markets react to the historic development.

A breakthrough amid a US government shutdown

In a surprising turn of events, Canary Capital confirmed that its spot ETFs tracking Hedera and Litecoin will launch tomorrow on the Nasdaq.

The approval comes despite the ongoing US government shutdown, which many assumed would halt all Securities and Exchange Commission (SEC) operations.

However, a recent procedural shift allowed issuers to bypass direct SEC intervention by letting their filings automatically go effective after 20 days.

According to Canary Capital CEO Steven McClurg, both ETFs have met all legal requirements and are ready to trade.

Bloomberg ETF analysts Eleanor Terrett and Eric Balchunas confirmed that the NYSE and Nasdaq have certified the required 8-A filings, the final step before shares can begin trading.

This development follows the model used for previous spot crypto ETFs, including those for Bitcoin and Ethereum, but with an even more dramatic twist, given the timing during a government shutdown.

Hedera and Litecoin ETFs ignite market excitement

The approval of the Hedera and Litecoin ETFs has energised the crypto market, sparking fresh optimism among investors who view it as another major step toward mainstream adoption.

Hedera’s native token, HBAR, has rebounded strongly, climbing to around $0.21 at press time and reclaiming critical technical levels.

Notably, HBAR’s rise above its 20, 50, 100, and 200 exponential moving averages signals a decisive bullish shift.

At the same time, the Litecoin price is attempting to break through its stubborn $100 resistance level.

LTC price briefly spiked above the $100 mark following the ETF announcement, reflecting heightened investor interest, though it has yet to confirm a full breakout.

Technical indicators, including the Relative Strength Index (RSI) and Moving Average Convergence/Divergence (MACD), suggest that a sustained move above $100 could mark the start of a broader bullish reversal for Litecoin.

Market data also shows a shift in trading behaviour.

Hedera’s open interest has declined from over $500 million earlier this year to roughly $163 million, indicating reduced speculative leverage.

This suggests that HBAR’s latest rally is being driven more by genuine spot demand than by leveraged futures trading — often a sign of healthier market growth.

Institutional momentum grows for Hedera

Beyond the ETF launch, Hedera’s recent institutional partnerships have strengthened its long-term outlook.

The network has been selected to participate in the Reserve Bank of Australia’s Project Acacia, exploring the use of distributed ledger technology (DLT) in tokenised financial markets.

It has also been chosen by the Bank of England for its DLT Challenge, further cementing Hedera’s position among credible blockchain platforms with real-world use cases.

Meanwhile, asset management giant T. Rowe Price has filed for an actively managed crypto ETF that may include both HBAR and LTC, signalling rising institutional confidence in these networks.

These developments are viewed as reinforcing the credibility of both assets at a time when regulated exposure through ETFs is gaining traction.

What traders should expect

If current momentum holds, Hedera price could test higher resistance zones near $0.25 and even $0.28 in the coming weeks, while Litecoin price may finally break through the $100 ceiling that has capped its rallies for months.

However, analysts maintain that Hedera (HBAR) must stay above $0.21, which has been established as the immediate support, for the bullish momentum to build.

At the same time, Litecoin (LTC) must stay above $99.67 for the $100 to come to effect.

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