Nasdaq filed Form 19b-4 with the SEC to list and trade the Canary HBAR ETF. If approved, this ETF will provide investors with direct access to the HBAR cryptocurrency.
Why Does This Matter?
The S-1 form is necessary for securities registration, while the 19b-4 form indicates Nasdaq's intention to list the ETF. SEC approval would allow the public trading of the Canary HBAR ETF.
Why Hedera (HBAR) and Why Now?
Hedera's fundamentals 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 crucial factors for launching the ETF, and 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). Bloomberg analysts estimate a 90% chance of approval for the LTC ETF, while the XRP ETF filing has been accepted by the SEC. Despite being in the early stages, the Solana ETF is gaining traction.
With the filings now under SEC review, a U.S.-listed spot ETF could introduce HBAR to a broader audience and mark the beginning of altcoin ETF approvals in 2025.
