Nasdaq has filed to list and trade the Canary HBAR ETF, potentially providing investors direct access to Hedera's cryptocurrency.
Significance of the Filing
The 19b-4 form submitted by Nasdaq signals the intention to list the ETF on its platform. Approval from the U.S. Securities and Exchange Commission (SEC) would allow public trading of the fund.
Why Hedera (HBAR)?
HBAR stands out among cryptocurrencies due to its non-security classification by the SEC. According to Canary Capital CEO Steven McClurg, its significant transaction volume and collaborations with major companies like Google and IBM make it an attractive asset for an ETF.
Canary's Expanding Crypto Portfolio
Canary Capital has also applied for spot ETFs for cryptocurrencies such as Litecoin (LTC), XRP, and Solana (SOL). This portfolio expansion covers promising cryptocurrencies that do not have regulatory disputes with the SEC.
If approved, the Canary HBAR ETF would broaden access to HBAR and could pave the way for further development of altcoin-based ETFs in the future.
