Canary Capital has filed a 19b-4 with the SEC for a Hedera (HBAR) ETF, potentially broadening access to the asset.
Hedera ETF Filing
Canary Capital has submitted a 19b-4 filing to the U.S. Securities and Exchange Commission for a Hedera (HBAR) exchange-traded fund. If approved, this ETF would be listed and traded on Nasdaq, providing broader access for both institutional and retail investors. The filing follows an amended S-1 submission last week, indicating progress in regulatory discussions.
Hedera Market Growth
Following the announcement, Hedera’s price increased by 6.08% in the past 24 hours to $0.2236. The market capitalization rose by 6.03% to reach $9.35 billion, while trading volume surged by 137.03% to $378.41 million. Currently, there are 41.9 billion HBAR in circulation out of a maximum supply of 50 billion.
HBAR Technical Analysis
Technical indicators provide mixed signals, with the Relative Strength Index (RSI) at 46.65, indicating neutral momentum. The RSI average is at 59.45, while the Chaikin Money Flow (CMF) registers at 0.06, suggesting mild capital inflows. Key support stands at $0.2062, with resistance at $0.2270. A breakout above this level could lead HBAR to $0.24, while a drop below support may bring it closer to $0.20.
Canary Capital’s application for a Hedera ETF may represent a significant step in integrating digital assets into traditional investment portfolios. Observing the SEC's ongoing response to such filings will provide further insights into the future of cryptocurrency funds.
