Nasdaq has filed Form 19b-4 with the SEC to list and trade the Canary HBAR ETF. If approved, this offering will provide investors with direct exposure to HBAR.
Significance of Nasdaq's Filing
This move follows Canary Capital's launch of the first U.S. HBAR Trust in October 2024 and an S-1 registration in November 2024. Both filings are currently under SEC review, increasing the likelihood of a spot HBAR ETF emerging soon.
Why HBAR?
HBAR's fundamental attributes make it a strong candidate for a spot ETF. According to Canary Capital CEO Steven McClurg, 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 credibility.
Canary's Expanding Crypto Portfolio
Canary Capital is not just focusing on HBAR. The firm has also filed for spot ETFs for Litecoin, XRP, and Solana. These steps indicate the company's expanding crypto portfolio.
If the Canary HBAR ETF is approved by the SEC, it will provide investors with direct access to HBAR, potentially increasing liquidity and adoption of the Hedera network and paving the way for more altcoin ETFs in the future.
