Nasdaq has filed a Form 19b-4 with the SEC to list and trade the Canary HBAR ETF. If approved, this ETF will track the spot price of HBAR, giving investors direct exposure to the asset.
Why Does This Matter?
The S-1 form is required for securities registration, and the 19b-4 form signals Nasdaq's intent to list the ETF. SEC approval would allow public trading of the Canary HBAR ETF.
Why Hedera (HBAR) and Why Now?
HBAR's fundamentals make it a strong candidate for a spot ETF. Unlike many cryptocurrencies, HBAR is not classified as a security by the SEC. According to Canary Capital CEO Steven McClurg, HBAR’s high transaction volume and enterprise adoption were key reasons for launching the ETF. Hedera's governing council, which includes companies like Google, IBM, and Boeing, adds further credibility.
Canary's Growing Crypto ETF Portfolio
Canary Capital is expanding beyond HBAR. The firm has also filed for spot ETFs for Litecoin (LTC), XRP, and Solana (SOL).
The Canary HBAR ETF could provide investors with direct exposure to the asset, boosting liquidity and supporting Hedera's network growth. All eyes are on 2025 for possible approval of the first altcoin ETFs.
