The U.S. Securities and Exchange Commission (SEC) has once again postponed its decision on the application for the Canary HBAR ETF, granting itself until November 8, 2025 for a final assessment.
Background of the ETF Application
The initial application for the ETF was submitted by Nasdaq in February 2025 using commodity trust rules, specifically Rule 5711(d). A revised version of the application was submitted in March and was quickly published for public comment, raising significant interest within the crypto community.
Market Impact of Crypto ETFs
If the Canary HBAR ETF becomes approved, it will be one of the first ETFs related to Hedera Hashgraph (HBAR) to trade on U.S. markets. This decision could positively influence other ETF applications and set a precedent for how less-known crypto-assets may be treated.
Future and Regulatory Implications
The Canary HBAR application represents a broader test for how open U.S. regulators are to allowing new crypto assets into traditional finance. The SEC's decision on this ETF will have significant consequences for the future of financial products related to altcoins.
In conclusion, the SEC's postponed decision will reflect not only the regulators' stance on HBAR but could also be a significant step in regulating other crypto assets in the U.S. market.
