NYSE Moves Ahead With Solana and Litecoin ETF Listings Amid SEC Shutdown

​The New York Stock Exchange (NYSE) has posted listings for several new cryptocurrency exchange-traded funds (ETFs) — including products tied to Solana and Litecoin — despite an ongoing U.S. government shutdown that has stalled most operations at the Securities and Exchange Commission (SEC).

Canary Capital confirmed it will launch the first U.S. exchange-traded products linked to Litecoin and Hedera on Tuesday. The firm's CEO, Steven McClurg, told Reuters that the products had "cleared internal compliance checks before the shutdown halted regular SEC functions." Bitwise Asset Management also said it plans to debut a Solana ETF the same day, while NYSE listing notices indicate four new spot crypto funds in total could begin trading as early as Tuesday.

The listings come under the SEC's newly implemented generic approval framework, which allows exchanges to adopt standardized listing rules for cryptocurrency and commodity-based ETFs. Approved in September, the system removes the need for product-specific SEC reviews, provided funds meet certain requirements related to custody, pricing transparency, and market surveillance.

Analysts say the change brings crypto ETFs in line with traditional fund approval processes established in 2019. "The standardized listings give the whole industry plenty of room," said Dave Nadig, head of research at ETF.com. "It allows issuers to bring new products to market without getting stuck in review cycles."

The timing has surprised some market observers, given that the SEC is operating with limited staff during the shutdown. A person familiar with the process told Reuters that exchanges appear to be acting under "standing authority" from the September vote, allowing compliant listings to move forward without additional SEC involvement.

Alongside Canary Capital and Bitwise, Grayscale Investments is expected to list its Solana Trust later this week, adding to a growing lineup of token-linked ETFs following the success of spot bitcoin and ether products launched in 2024.

If successful, the new listings could pave the way for more ETFs tied to smaller digital assets such as Cardano, Avalanche, and Polkadot. For now, the launches will test both investor appetite for alternative crypto exposure and the resilience of the SEC's streamlined approval framework during an agency shutdown.