Nasdaq Submitting ETF Spot Hbar! Is this a big sign for the world of crypto?

Nasdaq has just submitted the 19B-4 form to the United States Securities and Exchange Commission, or SEC, to register and trade shares from Canary Hbar ETF. This is a big step because this ETF is designed to track the price of spots from HBAR, tokens from the hedera network which is currently ranked 21st based on market capitalization. But, what does this really mean? And why is this important for institutional investors and the world of crypto as a whole? Let's discuss more deeply. What really happened? Canary Capital, the company behind this ETF, is not a new player in the digital asset market. They previously launched the first HBAR Trust in the US last October, and shortly afterwards, submitted an ETF HBAR registration through S-1 documents in November. According to Steven McClurg, CEO of Canary Capital, "As the most widely used network based on the number of transactions, hedera is a major example of company level technology that is at the intersection between crypto and real world scalability." That is, hedera is considered to have great potential to be used on a large scale, especially for applications that require high efficiency and stable transaction speed. Why is this important? Nasdaq's step reflects the increasing interest of institutional investors towards digital assets, especially HBAR. If this ETF is approved, that means easier access for big investors to be involved in the world of crypto, without having to buy assets directly. And this is not the only effort from Canary Capital. They are also applying for ETF Spot for Litecoin, who according to Bloomberg analyst, Eric Balchunas, has a great opportunity to get approval from SEC. Why? Because Litecoin has never been involved in legal matters with SEC and has even been classified as a commodity by CFTC in the case of cups. Ambition is greater than canary capital does not stop there, canary capital also targets ETF for other digital assets such as XRP and Solana. In fact, they have just launched a Canary Axl Trust, an investment product aimed at accredited institutions and investors. This trust focuses on the AXL token that supports the blockchain interoperability technology from Axlar Network. This initiative marks a new breakthrough in the crypto world, where the focus is not only in popular assets such as Bitcoin or Ethereum, but also on projects that support interoperability technology - something that can connect various blockchain networks that were previously separated. What is the impact on investors? If ETF HBAR is approved by SEC, this can be an important moment for Hedera and also the entire crypto market. Institutional investors will have a safer and more organized way to get exposure to digital assets. In addition, ETF's success can also increase the legitimacy of the crypto market in the eyes of regulators and traditional market players. And don't forget, this can encourage the volume of HBAR's trading significantly, which may have an impact on the price of the token in the future. The conclusion of the submission of ETF by Nasdaq shows that the adoption of digital assets among institutions is increasingly serious. Canary Capital clearly wants to take advantage of this momentum by offering products that suit the needs of large markets. #cryptocurrency #hbar #hbarnews #hbarcoin