金絲雀資本和納斯達克的提前努力啟動HBAR交易所交易基金（ETF）

Canary Capital是一家數字資產投資公司，為其Hedera（HBAR）交易所交易基金（ETF）提交了19b-4。

Digital asset investment firm Canary Capital has advanced their efforts to launch a Hedera (HBAR) exchange-traded fund (ETF) by filing an amended Form S-1 with the US Securities and Exchange Commission (SEC).

數字資產投資公司Canary Capital通過向美國證券交易委員會（SEC）提交經修訂的S-1表格S-1，提出了啟動Hedera（HBAR）交易所交易基金（ETF）的努力。

This amendment typically comes after feedback from the SEC, indicating progress in the regulatory review process. The next step is for the exchange planning to list the ETF to file Form 19b-4.

該修正案通常是在SEC的反饋之後進行的，表明監管審查過程中的進展。下一步是用於交換計劃以列出ETF以提交19b-4表格。

This form officially proposes the rule change needed for the ETF's approval and listing.

該表格正式提出了ETF批准和上市所需的規則更改。

Nasdaq Submits Form 19b-4 for HBAR ETF

納斯達克提交HBAR ETF的19b-4表格

As such, today, Nasdaq has officially submitted 19b-4 application documentation in support of Canary Capital’s HBAR ETF.

因此，今天，納斯達克已正式提交了19B-4申請文件，以支持Canary Capital的HBAR ETF。

This development mirrors Canary’s previous actions with their Litecoin (LTC) ETF, which also saw an amended S-1 filing following SEC comments. The active back-and-forth with the SEC suggests a thought-out plan to meet regulatory expectations and increase the likelihood of approval.

這種開發反映了Canary以前用Litecoin（LTC）ETF的行動，該行動在SEC評論後也看到了經修訂的S-1文件。 SEC的來回來回提出了一項經過深思熟慮的計劃，以滿足監管期望並增加批准的可能性。

Crypto-related ETF applications have gained notable traction, especially after the SEC leadership change under the current administration.

與加密相關的ETF應用程序已獲得了顯著的吸引力，尤其是在當前政府的SEC領導力變化之後。

Some analysts, including Bloomberg’s Eric Balchunas, have noted that assets like HBAR and Litecoin now have improved prospects for ETF approval, positioning them favorably among the current slate of altcoin ETF filings.

包括彭博的埃里克·巴爾庫納斯（Eric Balchunas）在內的一些分析師指出，HBAR和Litecoin之類的資產現在提高了ETF批准的前景，使它們在目前的Altcoin ETF申請中佔據了好處。

Form S-1 and Form 19b-4: Key ETF Documents Explained

表格S-1和表格19b-4：解釋的關鍵ETF文檔

Form S-1 is a registration statement that companies file with the SEC when they want to offer new securities (stocks, ETFs, and so on) to the public.

表格S-1是一份註冊表，當公司想向公眾提供新的證券（股票，ETF等）時，公司向SEC提出。

The form covers financial statements, business operations, risk factors for investors, how they plan to use funds raised from the offering, and management and executive compensation details.

該表格涵蓋了財務報表，業務運營，投資者的風險因素，他們計劃如何使用從發行中籌集的資金以及管理和高管薪酬細節。

Form S-1: The Fund’s Blueprint

表格S-1：基金的藍圖

For crypto ETFs, Form S-1 is filed by the asset management company, and it must be approved by the SEC before the ETF can launch.

對於Crypto ETF，S-1表格是由資產管理公司提起的，必須在ETF啟動之前先獲得SEC批准。

Meanwhile, Form 19b-4 is what’s filed by the exchange (like Nasdaq, NYSE, and Cboe) when they want to list and trade a new security, like a crypto ETF.

同時，當交易所（如納斯達克，紐約證券交易所和CBOE）提交的是19b-4表格，當他們想列出和交易新的安全性（例如加密貨幣）時。

If an exchange wants to list a new ETF, it must request SEC approval for a rule change to allow the ETF to be listed. The SEC then reviews and decides whether to approve or deny the request. Public comment periods may also be involved.

如果交易所想列出新的ETF，則必須要求SEC批准進行規則更改，以允許列出ETF。 SEC然後審查並決定是批准還是拒絕請求。公眾意見期也可能涉及。

S-1 vs. 19b-4: Fund vs. Listing

S-1與19b-4：基金與上市

Essentially, Form S-1 is about the fund itself, while Form 19b-4 is about listing the ETF on an exchange.

本質上，S-1表格與基金本身有關，而表格19b-4則是關於在交換上列出ETF的。

In the case of Canary Capital’s HBAR ETF, the amended S-1 suggests SEC engagement, and the 19b-4 filing signals progress toward potential approval.

就加拿大首都的HBAR ETF而言，修訂後的S-1表明SEC參與，19b-4的申請信號朝著潛在的批准方向發展。

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