Canary Capital files for first-of-its-kind Hedera HBAR spot ETF with SEC
Quick Take The crypto investment firm filed an S-1 registration statement with the SEC on Tuesday. The fund will “provide exposure to the value of the native asset of the Hedera Network,” according to the filing.
Canary Capital has filed for a Hedera HBAR spot exchange-traded fund with the U.S. Securities and Exchange Commission — marking a first for that type of crypto fund.
The crypto investment firm filed an S-1 registration statement with the SEC on Tuesday. The fund looks to "provide exposure to the value of the native asset of the Hedera Network," according to the filing .
The firm also previously launched a HBAR Trust in October for accredited investors. Steven McClurg founded Canary Capital and previously founded Valkyrie Funds, which has other spot crypto ETFs. Canary Capital has previously filed registration statements for a spot Litecoin ETF, a Solana ETF and an XRP ETF.
ETF Store President Nate Geraci said Canary Capital’s filing on Tuesday could be indicative of how firms see crypto regulations changing under a new administration.
“This is a very early indication of how significantly some ETF issuers expect the crypto regulatory winds to shift,” Geraci said in a message to The Block. “My expectation is that issuers will grow increasingly aggressive with crypto-related ETF filings in an attempt to test out the SEC under the new Trump administration.”
Update: Nov. 12, 6:00 p.m. UTC to include details throughout
Update: Nov. 12, 6:55 p.m. UTC to include comments from Nate Geraci
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