Nasdaq Files 19b-4 for Canary Capital’s Hedera HBAR Spot ETF
A big news for HBAR and Litecoin. Nasdaq has officially filed a 19b-4 form with the SEC, seeking approval to list and trade shares of the Canary HBAR ETF. According to Bloomberg analyst Eric Balchunas, this puts HBAR and Litecoin in the best position among current altcoin ETF filings, increasing their chances of gaining regulatory approval ahead of others. This ETF is designed to track the real-time price of HBAR, the 21st-largest cryptocurrency by market capitalization.
This filing marks a significant expansion of Canary Capital’s crypto investment products, following the launch of its HBAR Trust in October 2024 and an initial ETF registration (S-1) in November.
What This Means for HBAR?
If approved, the ETF would allow investors to gain exposure to Hedera’s HBAR token without directly purchasing or holding it. This kind of institutional investment vehicle has historically been seen as a positive development for crypto adoption, making it easier for traditional investors to enter the space.
HBAR’s price has reacted positively to the news, surging 5% following Nasdaq’s filing. This follows a previous 20% jump after the S-1 filing in November, showing strong investor enthusiasm for an HBAR-based ETF.
Canary Capital’s Growing Influence in Crypto ETFs
Canary Capital is also pursuing other cryptocurrency ETFs. Alongside the HBAR ETF, the firm has filed for a spot Litecoin ETF, which is now awaiting SEC approval. According to Bloomberg analyst Eric Balchunas, Litecoin’s regulatory outlook appears favorable, as it has not been caught in legal disputes with the SEC and has been classified as a commodity by the CFTC.
The spot Litecoin ETF has already been listed on the Depository Trust and Clearing Corporation (DTCC) under the ticker “LTCC,” an essential step toward its launch.
More Crypto ETFs in the Pipeline
Canary Capital isn’t stopping at HBAR and Litecoin. The firm has also filed for a spot XRP ETF, which the SEC has already acknowledged. Plus, there are reports that Canary is exploring similar investment products for Solana (SOL), indicating a broader push for crypto ETFs.
The introduction of more spot crypto ETFs signals a growing interest in making digital assets more accessible to institutional investors. While the SEC’s decision on the HBAR ETF is still pending, this filing represents a major step toward mainstream crypto adoption. If approved, it could pave the way for more blockchain-based investment products in the future.
