Nasdaq Files to List and Trade Shares of the Canary HBAR ETF Targeting Hedera Network's Native Cryptocurrency

Nasdaq has recently filed Form 19b-4 with the U.S. Securities and Exchange Commission (SEC) to list and trade shares of the Canary HBAR ETF.

Nasdaq has filed Form 19b-4 with the U.S. Securities and Exchange Commission (SEC) to list and trade shares of Canary HBAR ETF.

The ETF will track the spot price of Hedera Network’s native cryptocurrency, HBAR. This follows Canary Capital's launch of the first U.S. HBAR Trust in October 2024 and a subsequent S-1 registration statement for an HBAR ETF filed in November 2024.

Canary Capital CEO Steven McClurg highlighted Hedera's high transaction volume and real-world scalability as key factors in establishing the fund.

Nasdaq's registration coincides with Canary Capital's spot Litecoin ETF nearing possible SEC clearance. According to Bloomberg analyst Eric Balchunas, Litecoin's regulatory future appears positive as it's classified as a commodity by the CFTC and hasn't faced SEC legal issues.

The fund, listed under the ticker LTCC, has already been noted on the Depository Trust and Clearing Corporation (DTCC), a step toward its launch.

Beyond HBAR and Litecoin, Canary Capital is also pursuing ETFs for other cryptocurrencies, including XRP and Solana. The firm's application for a spot XRP ETF has been filed and accepted by the SEC, suggesting the company is aiming to expand opportunities for crypto investments.

In another development, Canary Capital recently launched the Canary AXL Trust, designed for institutions and accredited investors seeking indirect exposure to AXL, the token powering Axelar Network's blockchain interoperability technology. This marks the first investment product focused on blockchain interoperability.

The SEC has acknowledged Cboe BZX's XRP ETF filing for Canary Capital, and the fund is expected to be the first physically backed XRP ETF to hit the market.

Canary Capital is also set to launch a spot Litecoin ETF, subject to final approval from the SEC. This ETF will provide investors with a regulated way to gain exposure to LTC,鏽蝕鋼板 which has been designated as a commodity by the CFTC.