Nasdaq filed a Form 19b-4 with the SEC to list and trade the Canary HBAR ETF. This move could provide investors with direct access to Hedera’s cryptocurrency, HBAR.
Path to Launching the Canary HBAR ETF
Nasdaq's 19b-4 filing follows Canary Capital's launch of the first U.S. HBAR Trust in October 2024 and an S-1 registration for an HBAR ETF in November 2024. With both filings under SEC review, a spot HBAR ETF may soon be on the horizon.
Why Hedera (HBAR)?
Hedera’s strong fundamentals make it a prime candidate for a spot ETF. HBAR is not classified as a security by the SEC, providing regulatory clarity. Its high transaction volume and enterprise adoption are further bolstered by Hedera’s governing council, which includes companies like Google and IBM.
Canary's Expanding Portfolio and Hedera's Institutional Presence
Canary Capital is actively expanding its crypto ETF portfolio. The firm has filed for spot ETFs for Litecoin (LTC), XRP, and Solana (SOL). Although HBAR has limited U.S. exposure, its ETPs in Europe, specifically on the Frankfurt Stock Exchange and Euronext Amsterdam, showcase growing demand on the continent.
While the SEC has yet to approve any spot altcoin ETFs, HBAR’s regulatory clarity and institutional backing might give the Canary HBAR ETF an edge in gaining approval.
