Nasdaq has filed Form 19b-4 with the SEC for the listing and trading of the Canary HBAR ETF, which will provide investors direct exposure to HBAR, if approved.
Significance of HBAR ETF Listing
The S-1 form is required for securities registration, while the 19b-4 form indicates Nasdaq's intent to list the ETF. Approval of both would enable public trading of the Canary HBAR ETF.
Advantages of Hedera (HBAR)
Hedera's fundamentals make HBAR a strong candidate for a spot ETF. Key factors are its high transaction volume and the presence of companies like Google, IBM, and Boeing in its governing council. HBAR is not classified as a security by the SEC.
Expanding Canary's ETF Portfolio
Canary Capital is expanding its crypto ETF portfolio, filing for spot ETFs for Litecoin (LTC), XRP, and Solana (SOL). Favorable forecasts from Bloomberg analysts increase the chances of approval for the LTC and XRP ETFs.
If the Canary HBAR ETF is approved, it will provide investors with direct access to Hedera and could boost the liquidity and adoption of its network. It would also be a significant step toward listing more altcoin ETFs in the future.
