Canary Capital Updates Litecoin and Hedera ETF Filings
Canary Capital has finalized changes to its S-1 filings for Litecoin (LTC) and Hedera (HBAR) spot Exchange Traded Funds (ETFs). These updates bring the ETFs closer to approval by the US Securities and Exchange Commission (SEC). The new filings include a 95 basis point fee and confirm ticker symbols: LTCC for Litecoin and HBR for Hedera.
Bloomberg ETF analyst Eric Balchunas noted these changes are usually made just before final approval. However, he warned the current US government shutdown could delay the SEC’s review process. The shutdown limits the SEC’s ability to approve new ETFs because the Division of Corporation Finance is not fully operational.
The deadline for the Litecoin ETF approval is October 15, while the Hedera ETF deadline is November 8. Another Bloomberg analyst, James Seyffart, said the ETFs are “at the goal line” but may face delays due to the shutdown.
Litecoin and Hedera Prices Under Pressure
Retail demand for Litecoin and Hedera has weakened amid recent market volatility. Data from CoinGlass shows that futures open interest for LTC dropped over 2%, and HBAR futures fell more than 4% in the last 24 hours. This suggests traders are closing positions and waiting for ETF decisions.
Litecoin is trading above $117 after three days of losses. It is near key support levels at the 50-day and 100-day exponential moving averages (EMAs) of $112 and $109. Technical indicators show a slight drop in bullish momentum. The Relative Strength Index (RSI) is near neutral at 56, and the Moving Average Convergence Divergence (MACD) is close to a bearish crossover.
If Litecoin rises above $122, it could target its previous high of $147.
Hedera Faces Resistance and Support Levels
Hedera is moving within a falling channel pattern and recently dropped 5% from resistance. It is holding just above the 200-day EMA at $0.2126 but risks further decline if it falls below this level. Support levels to watch are $0.2046 and $0.1930.
The RSI for Hedera is 45, indicating weakening buying pressure. The MACD also risks a bearish crossover, which could signal a downtrend.
On the upside, Hedera needs to break above the resistance trendline at $0.2332 to confirm a breakout. Key resistance levels after that are $0.2522 and $0.2765, the highs from September 18 and August 14.
