NYSE and Nasdaq Move Forward With Spot Crypto ETF Listings Despite U.S. Government Shutdown
The New York Stock Exchange (NYSE) and Nasdaq are pressing ahead with listings for four new spot cryptocurrency exchange-traded funds (ETFs), even as the U.S. government shutdown continues to constrain federal operations.
Listing notices filed Monday suggest that trading could begin as soon as Tuesday. The lineup includes the Bitwise Solana Fund, Canary Capital Litecoin and HBAR Fund, and the Grayscale Solana Trust, which is scheduled to debut on Wednesday.
The move caught market participants off guard, as ETF issuers had largely anticipated no regulatory progress from the Securities and Exchange Commission (SEC) during the shutdown. The agency has been functioning with a skeleton staff, with most non-essential employees furloughed and essential personnel working without pay.
These funds had reached final decision deadlines earlier this month but appeared delayed by the government closure. The sudden appearance of listing notices indicates that issuers may be proceeding under recently implemented generic listing standards or other mechanisms that permit launches without explicit SEC sign-off.
Spot ETFs offer investors exposure to underlying digital assets without requiring direct ownership. These are the first new spot products to list since the rollout of Bitcoin (BTC) and Ether (ETH) ETFs in 2024. Some of the new vehicles will also include staking components, allowing investors to earn additional yield.
Several other asset managers have similar applications pending for Solana and other tokens across NYSE, Nasdaq, and Cboe. However, further approvals remain uncertain as the SEC continues to operate under shutdown constraints.
