Canary

Hedera

Bitcoin

You can also read this news on COINTURK NEWS: <a href="https://en.coin-turk.com/canary-capital-launches-first-u-s-hbar-trust-to-attract-institutional-investors/" data-wpel-link="internal" rel="noopener noreferrer nofollow">Canary Capital Launches First U.S. HBAR Trust to Attract Institutional Investors</a> 
The launch of the first U.S. HBAR Trust by Canary Capital has sparked excitement regarding a potential ETF launch for Hedera. Such trusts have previously paved the way for Bitcoin and Ethereum Spot ETFs in the U.S.
<h2 id="hbar-trust-initiated">HBAR Trust Initiated</h2>
Under the leadership of Steven McClurg, Canary Capital has initiated the first U.S. HBAR trust, offering institutional investors an opportunity to invest in Hedera’s native <a href="https://en.coin-turk.com/usa-convenes-to-implement-cryptocurrency-regulations-schedule-and-particulars/" data-wpel-link="internal" rel="noopener noreferrer nofollow">cryptocurrency</a>. This move allows institutional investors interested in HBAR to purchase through a familiar investment method while minimizing custody risks.
Canary Capital’s action coincides with a period of increased interest from Wall Street players in Bitcoin and other altcoins. The launch aims to respond to the growing institutional demand in the market.
<h2 id="speculations-surrounding-hedera-etf-intensify">Speculations Surrounding Hedera ETF Intensify</h2>
Hedera’s reputation as a corporate-level blockchain continues to attract investor interest. With its acclaim in areas such as asset tokenization, NFTs, and web3 applications, Hedera’s trust launch has triggered speculations about a potential ETF launch. However, it is essential to note that the SEC currently does not classify altcoins other than ETH and BCH as commodities, which has previously led to <a href="https://en.coin-turk.com/solana-sol-falls-below-100-amid-market-volatility-2/" data-wpel-link="internal" rel="noopener noreferrer nofollow">SOL</a> Coin ETF applications being withdrawn.
Canary Capital stated that U.S. institutional investors can now invest in cryptocurrencies through this new trust. Many experts view this development as a significant milestone for the cryptocurrency, believing that if the network continues to gain momentum, an ETF could be a natural step toward increasing institutional adoption.
Steven McClurg from Canary Capital pointed out the rising demand for crypto offerings in the U.S. In a press release, he emphasized the need for innovative solutions beyond simple products.
Despite a general decline in the market, HBAR’s trading volume has increased by approximately 10%, reaching $56.67 million. However, cryptocurrencies continue to decline due to U.S. PMI data and Iran’s missile activities.
In summary, the launch of the first U.S. HBAR Trust could pave the way for a potential ETF for Hedera. Developments in the <a href="https://en.coin-turk.com/okx-exchange-to-cease-operations-in-india/" data-wpel-link="internal" rel="noopener noreferrer nofollow">crypto market</a> and institutional interests continue to shape this process.
The post <a href="https://en.coin-turk.com/canary-capital-launches-first-u-s-hbar-trust-to-attract-institutional-investors/" data-wpel-link="internal" rel="noopener noreferrer nofollow">Canary Capital Launches First U.S. HBAR Trust to Attract Institutional Investors</a> appeared first on <a href="https://en.coin-turk.com" data-wpel-link="internal" rel="noopener noreferrer nofollow">COINTURK NEWS</a>.

Canary Capital Launches First U.S. HBAR Trust to Attract Institutional Investors

Table of Contents

COINTURK NEWS

Other articles published on Oct 2, 2024

Celestia Foundation Raises $100M to Expand Modular Blockchain Ecosystem

Solana Approaches Key Support Level as Price Drops Over 5%

Top 5 Cryptos That Could Explode 8000% by 2025 – Experts Weigh In

Aktivitas Dogecoin Meningkat: 72 Persen Alamat Baru dalam Sepekan!

GR1D TERM1NAL Credit Packs on Amazon are Set to Unify the Fragmented Web3 Gaming Space

Analysts Share Insights Following Recent Market Declines

Join our free newsletter for daily crypto updates!