NYSE and Nasdaq List Four New Spot Crypto ETFs Despite Government Shutdown
The New York Stock Exchange (NYSE) and Nasdaq have moved forward with listings for four new spot cryptocurrency exchange-traded funds (ETFs), even as the U.S. Securities and Exchange Commission (SEC) operates under limited capacity amid the ongoing government shutdown.
According to exchange filings posted Monday, the new products include the Bitwise Solana Fund, Canary Capital Litecoin and HBAR Fund, and the Grayscale Solana Trust, which is scheduled to begin trading Wednesday. The listings suggest that trading could commence as early as Tuesday.
The move caught many market participants off guard. ETF issuers had expected the shutdown to stall SEC activity entirely, given that only essential staff remain on duty and most agency employees are furloughed without pay.
The ETFs had faced decision deadlines earlier this month, but the shutdown had delayed final rulings. The sudden appearance of listing notices indicates that issuers may be relying on generic listing standards or alternative regulatory mechanisms that allow products to go live without direct SEC approval.
Spot ETFs give investors price exposure to underlying digital assets without requiring them to hold tokens directly. These new launches represent the first wave of spot crypto funds beyond bitcoin (BTC) and ether (ETH) ETFs, both approved in 2024. Some of the newly listed funds are also expected to include staking features, offering investors additional yield potential.
Other applications for spot Solana and multi-asset crypto ETFs remain pending across the NYSE, Nasdaq, and Cboe exchanges. However, further progress is likely to remain uncertain until the government resumes normal operations.
