Canary Funds Files Amended S-1 Registration Statement for HBAR ETF

Canary Funds has filed an S-1 registration statement with the U.S. Securities and Exchange Commission (SEC) for an exchange-traded fund (ETF) tied to HBAR, the native asset of the Hedera blockchain.

An S-1 registration statement has been filed with the U.S. Securities and Exchange Commission (SEC) by Canary Funds for an exchange-traded fund (ETF) linked to HBAR, the native asset of the Hedera blockchain.

This filing, which was reported by Eleanor Terret and Eric Balchunas on Twitter, has generated significant interest and discussion within the crypto community.

The S-1 filing marks one of the initial major steps toward the potential HBAR ETF. Following this, the next crucial stage is the 19b-4 filing, which will propose a rule change for listing the ETF on an exchange.

According to Balchunas's Twitter post, Canary Funds has filed an amended S-1 for their HBAR ETF, which is typically uncommon as amendments follow comments from the SEC. He also noted that this mirrors a similar amendment with Litecoin’s ETF. Balchunas highlighted that there has not yet been a 19b-4 filing, which is necessary to get the approval process moving.

The potential HBAR ETF aims to offer investors exposure to the altcoin. The success of Bitcoin ETFs has paved the way for cryptocurrency ETFs, with funds like Fidelity’s FBTC and BlackRock’s IBIT leading the way.

A 19b-4 filing will likely follow soon, as it is a crucial step for the Commission to approve the rule change. Moreover, expectations are positive regarding the chances of the HBAR ETF, given the current Securities and Exchange Commission's more "less combative" approach.

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