According to the latest development, Canary company has applied for a spot ETF for Hedera (HBAR).
According to today’s S-1 filing, the Canary HBAR ETF aims to provide investors with “exposure to the value of the Hedera Network’s native asset.” The ETF will hold only HBAR tokens directly, without relying on derivatives or futures contracts. The filing does not list a custodian or administrator for the ETF, and an SEC approval decision is still pending.
As the native asset of the Hedera network, HBAR plays a key role in the network’s ecosystem, enabling transactions, powering decentralized applications, and enabling participation in governance.
Hedera's unique governance model features a council of globally recognized companies and organizations aimed at promoting safe and compliant decision-making.
Led by founder Steven McClurg, who previously founded Valkyrie Funds and is known for launching other crypto ETFs, Canary Capital has previously introduced a Hedera HBAR Trust for accredited investors and filed for spot ETFs for Litecoin, Solana, and XRP.
*This is not investment advice.