Henry and another suspect were arrested Sept. 30 in Denver after federal drug agents said they met to buy cocaine from a man who was cooperating with authorities.
The U.S. attorney's office said Wednesday Henry is expected to be released after a phone line is installed in his house for electronic monitoring. Prosecutors said that could be Thursday.
Henry's case has been transferred to Montana, where authorities say they found marijuana and cocaine that Henry helped supply.
Henry has not entered a plea. His attorney did not immediately return a call.