- Canary has updated its S-1 filings for proposed Litecoin (LTC) and Hedera (HBAR) spot ETFs, revealing key details on fees and tickers.
- The Hedera price is witnessing a short-term correction with flag formation.
- The Litecoin price rides a steady uptrend amid the formation of a rising channel pattern.
On Tuesday, October 7th, the crypto market witnessed a sudden sell-off as Bitcoin reverted below $125,000. The pullback likely came as a healthy correction to recoup bullish momentum, but it liquidated over $586.55 million, according to Coinglass data. Despite the intraday sell-off, the Litecoin and Hedera prices show notable resilience amid the recently filed S-1 amendment by the investment management firm, Canary. Will these altcoins trigger a rebound amid the broader “Uptober” sentiment in the crypto market?
Canary’s Spot ETF Filings Could Spark Fresh Rallies in Litecoin and Hedera
Canary has filed an updated S-1 for its proposed Litecoin (LTC) and Hedera (HBAR) spot exchange-traded funds, with the most recent amendment providing some crucial details about fees and ticker symbols. According to the filing, both funds will charge an annual sponsor fee of 95 basis points, or 0.95%, and will trade under the tickers LTCC for Litecoin and HBR for Hedera upon listing.
The filing says the unified fee of 0.95% will be applied on the basis of the total holding of the trust, including both the digital assets and cash positions taken into consideration. The sponsor fee is determined on a daily basis and is to be paid on a monthly basis in either the underlying asset or cash as defined by the trust agreement The authorizing document also provides the sponsor with the option to waive all or part of the fee at its discretion for a limited time, but no continuing obligation to do so.
On the development, Bloomberg ETF analyst Eric Balchunas noted that the addition of fees and tickers is usually seen as an indication that a filing is about to be finalized. However, he cautioned that with the possibility of delays associated with continued government operations, timing is unknown. Balchunas added that while the 95-basis-point fee is high when compared to spot Bitcoin ETF rates, it is not unusual for a younger or smaller crypto product entering the ETF sector. He went on to argue that if these funds are successful in drawing investor demand, rival issuers will launch lower-cost equivalents to take market share.
Anyhow, the potential launch could boost market visibility and investors’ interest in Litecoin and Hedera coin, bolstering their price for a higher rally.
Let’s dive into the price analysis of these coins.
Litecoin Price Holds Steady Uptrend Within Channel Pattern
In the last two weeks, the Litecoin price shows a bullish rebound from $100.25 to the current trading price of $117.34, projecting a 17% gain. This upswing pushed the LTC price above key daily exponential moving averages (20, 50, 100, and 200), reinforcing the renewed bullish sentiment in the market.
An analysis of the daily chart shows the rising price is shaping an ascending channel pattern, which reflects the mid-term uptrend in the asset. If the pattern holds, the LTC could bounce another 33% and hit the upper boundary of the channel at $156.
Hedera Price Waiting for Imminent Breakout
By press time, the Hedera coin price trades at $0.219, accounting for an intraday loss of 4.46%. Interestingly, the pullback is positioned at the key resistance trendline of a bull-flag pattern of the daily time frame chart.
Since late July 2025, the HBAR coin price has been actively resonating within the two converging trendlines of the pattern, which act as a dynamic resistance and support. If the pattern holds true, the current pullback could plunge the price another 8.5% before the price seeks support from the bottom trendline at the $2 psychological level.
Until these trendlines are intact, the current consolidation could prolong and wait for a decisive breakout from either end. A bullish breakout from the overhead trendline will intensify the bullish momentum and drive a boost to a rally towards $0.3.
