Nasdaq has filed Form 19b-4 with the SEC to list and trade the Canary HBAR ETF. The proposed ETF will track the spot price of Hedera’s native cryptocurrency, HBAR.
Significance of Nasdaq's HBAR ETF Filing
Following the launch of the HBAR Trust in the U.S. in October 2024 and an S-1 registration in November 2024, this move could lead to the approval of a spot HBAR ETF. This indicates Nasdaq's intention to list the ETF, providing investors access to the asset. SEC approval would enable public trading of the Canary HBAR ETF.
Why Hedera (HBAR) Matters Now
Hedera's characteristics make it a strong candidate for a spot ETF. HBAR is not classified as a security by the SEC. High transaction volume and enterprise adoption are key aspects, says Canary Capital CEO Steven McClurg.
Key factors supporting an HBAR ETF: * Regulatory clarity – HBAR is not considered a security. * Enterprise adoption – Companies use Hedera for real-world applications.
Canary's Expanding ETF Portfolio
Canary Capital has filed for spot ETFs for Litecoin (LTC), XRP, and Solana (SOL). Bloomberg analysts estimate a 90% chance of approval for the Litecoin ETF. The SEC has accepted the XRP ETF filing for review, and Solana is still in its early stages but gaining traction.
If approved, the Canary HBAR ETF would offer investors direct exposure to HBAR, enhance liquidity, and broaden Hedera’s usage. This could pave the way for more spot altcoin ETFs.
