Digital asset managers are focused on getting as many tokens approved for ETFs as possible. NASDAQ's recent filing with the SEC on behalf of Canary Capital marks the latest move in this trend.
Hedera ETF Gains Momentum
The filing involves a spot Hedera (HBAR) ETF. HBAR is the native token of the Hedera network, a decentralized public network that uses the Hashgraph consensus algorithm for fast, secure transactions. Approval would grant institutional investors exposure to HBAR's value. A 19b-4 filing is the second stage in the approval process for a crypto ETF by the U.S. regulatory body.
Analysts Tip HBAR Among Top ETF Contenders
The Hedera Network, as per the filing, does not primarily aim to operate a payment system or store value. Among recent filings, both HBAR and Litecoin are seen as the strongest contenders in the ETF space.
Is HBAR’s Long-Term 100x Growth Possible?
HBAR is noted for its unique hashgraph offering superior speed and scalability. Some analysts predict a 100x growth backed by recent partnerships with NVIDIA and Intel.
The filing for the Hedera ETF increases interest around HBAR, with analysts foreseeing significant growth potential.
