金丝雀资本和纳斯达克的提前努力启动HBAR交易所交易基金（ETF）

Canary Capital是一家数字资产投资公司，为其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).

数字资产投资公司Canary Capital通过向美国证券交易委员会（SEC）提交经修订的S-1表格S-1，提出了启动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.

该修正案通常是在SEC的反馈之后进行的，表明监管审查过程中的进展。下一步是用于交换计划以列出ETF以提交19b-4表格。

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

该表格正式提出了ETF批准和上市所需的规则更改。

Nasdaq Submits Form 19b-4 for HBAR ETF

纳斯达克提交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，纳斯达克已正式提交了19B-4申请文件，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.

这种开发反映了Canary以前用Litecoin（LTC）ETF的行动，该行动在SEC评论后也看到了经修订的S-1文件。 SEC的来回来回提出了一项经过深思熟虑的计划，以满足监管期望并增加批准的可能性。

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

与加密相关的ETF应用程序已获得了显着的吸引力，尤其是在当前政府的SEC领导力变化之后。

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·巴尔库纳斯（Eric Balchunas）在内的一些分析师指出，HBAR和Litecoin之类的资产现在提高了ETF批准的前景，使它们在目前的Altcoin ETF申请中占据了好处。

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

表格S-1和表格19b-4：解释的关键ETF文档

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是一份注册表，当公司想向公众提供新的证券（股票，ETF等）时，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.

该表格涵盖了财务报表，业务运营，投资者的风险因素，他们计划如何使用从发行中筹集的资金以及管理和高管薪酬细节。

Form S-1: The Fund’s Blueprint

表格S-1：基金的蓝图

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.

对于Crypto ETF，S-1表格是由资产管理公司提起的，必须在ETF启动之前先获得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.

同时，当交易所（如纳斯达克，纽约证券交易所和CBOE）提交的是19b-4表格，当他们想列出和交易新的安全性（例如加密货币）时。

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，则必须要求SEC批准进行规则更改，以允许列出ETF。 SEC然后审查并决定是批准还是拒绝请求。公众意见期也可能涉及。

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

S-1与19b-4：基金与上市

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

本质上，S-1表格与基金本身有关，而表格19b-4则是关于在交换上列出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，修订后的S-1表明SEC参与，19b-4的申请信号朝着潜在的批准方向发展。

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