Nasdaq files application to list Canary HBAR-ETF
Nasdaq files application to list Canary HBAR-ETF
Nasdaq has taken a significant step toward expanding digital asset offerings by filing to list the Canary HBAR ETF, designed to provide investors exposure to Hedera’s native token, HBAR.
Key Takeaways
- Nasdaq files for the Canary HBAR ETF to offer regulated exposure to Hedera’s HBAR.
- This filing is part of a growing wave of altcoin ETF proposals pending SEC approval.
- The SEC has recently approved spot Bitcoin and Ether ETFs, with high approval odds estimated for other altcoin ETFs.
The filing, submitted by asset manager Canary Capital, marks the latest move in a series of applications with the U.S. Securities and Exchange Commission (SEC) for crypto ETFs. The proposed fund aims to track the performance of HBAR, offering a regulated pathway for investors seeking exposure to this alternative digital asset. With the SEC review process underway, trading will not commence until the filing is approved, underscoring the rigorous regulatory scrutiny that continues to shape the evolving ETF landscape.
HBAR price. Source: CoinGecko.
A shifting regulatory landscape
This filing arrives amid a broader surge in ETF proposals linked to alternative cryptocurrencies. In recent months, several issuers have sought to list ETFs based on altcoins such as Solana, Litecoin, XRP, Polkadot, Dogecoin, and even niche tokens like Official Trump. The market environment is evolving rapidly: the SEC has approved spot Bitcoin and Ether ETFs in 2024 while previously stalling applications for other crypto assets. Notably, Bloomberg Intelligence has set approval odds of 65% for an XRP ETF, and even higher odds for Litecoin (90%) and Solana (70%), although estimates for HBAR remain pending. These developments follow a regulatory pivot after the U.S. government’s more crypto-friendly stance under former President Trump, which has paved the way for multiple new ETF filings expected to be approved in 2025.
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As institutional interest in crypto ETFs continues to grow, Nasdaq’s move to list a Canary HBAR ETF could signal a widening acceptance of altcoin-based investment products. Market watchers will be keenly monitoring SEC decisions in the coming months, as these rulings may reshape investor access and drive further innovation in the digital asset arena.
