Canary

Donald Trump

Hedera

Investment firm Canary Capital filed with the United States Securities and Exchange Commission (SEC) to list and trade shares of its spot Hedera exchange-traded fund, or ETF.
In a Nov. 12 filing, Canary <a data-ct-non-breakable="null" href="https://www.sec.gov/Archives/edgar/data/2039458/000199937124014510/hbar_s1-111224.htm" rel="null" target="null" text="null" title="null">submitted</a> a Form S-1 registration statement to SEC officials for review, proposing the commission allow US investors to trade shares of its Canary Hedera (<a data-ct-non-breakable="null" href="https://cointelegraph.com/hedera-hbar-price-index" rel="null" target="null" text="null" title="null">HBAR</a>) ETF trust on an unnamed exchange. 
The proposed investment vehicle was one of the first to offer investors exposure to a spot HBAR exchange-traded product, though the asset manager has also <a data-ct-non-breakable="null" href="https://cointelegraph.com/news/canary-capital-files-xrp-etf-bid-following-bitwise" rel="null" target="null" text="null" title="null">applied to list and trade</a> spot XRP and Solana ETFs. 
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 Source: <a data-ct-non-breakable="null" href="https://www.sec.gov/Archives/edgar/data/2039458/000199937124014510/hbar_s1-111224.htm" rel="nofollow noopener" target="_blank" text="null" title="https://www.sec.gov/Archives/edgar/data/2039458/000199937124014510/hbar_s1-111224.htm">SEC</a>
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According to the filing, the investment vehicle will not use HBAR-linked derivatives or futures contracts that could put the asset manager within the purview of the US Commodity Futures Trading Commission. Canary did not name an exchange for a listing nor a custodian or ticker symbol.
Related: <a data-ct-non-breakable="null" href="https://cointelegraph.com/news/bitcoin-price-rally-spot-etfs-inflows-nov-2024" rel="null" target="null" text="null" title="null">Bitcoin ETFs rope in $2.6B investments amid weekly bull run</a>
HBAR, the native crypto asset of the Hedera network, had a market capitalization of more than $2.5 billion at the time of publication, trading at a price of roughly $0.07. Canary launched the HBAR Trust on Oct. 1 as a private offering to qualified investors.
<h2 id="sec-soon-under-new-leadership">SEC soon under new leadership?</h2>
It’s unclear whether the commission will approve listing and trading of spot ETFs tied to other crypto assets on US exchanges following the approval of Bitcoin (<a data-ct-non-breakable="null" href="https://cointelegraph.com/bitcoin-price" rel="null" target="null" text="null" title="null">BTC</a>) and Ether (<a data-ct-non-breakable="null" href="https://cointelegraph.com/ethereum-price" rel="null" target="null" text="null" title="null">ETH</a>) ETFs in January and May, respectively. 
Following a Nov. 5 election in the US, Republicans will have control of the legislative and executive branches of government starting in January, with President-elect Donald Trump pledging to fire SEC Chair Gary Gensler.
However, despite the criticism by many in the industry over his seeming “regulation by enforcement” approach to crypto, Gensler also <a data-ct-non-breakable="null" href="https://cointelegraph.com/news/gary-gensler-stop-spot-bitcoin-etf-why" rel="null" target="null" text="null" title="null">voted for approving</a> spot BTC ETFs. The SEC’s Trading and Markets Division <a data-ct-non-breakable="null" href="https://cointelegraph.com/news/sec-approves-ether-etf-without-gensler-vote" rel="null" target="null" text="null" title="null">signed off on</a> spot Ether ETFs.
Magazine: <a data-ct-non-breakable="null" href="https://cointelegraph.com/magazine/bitcoin-110k-price-prediction-blackrock-etf-inflows-donald-trump-hodlers-digest/" rel="null" target="null" text="null" title="null">BTC’s ‘incoming’ $110K call, BlackRock’s $1.1B inflow day, and more: Hodler’s Digest Nov. 3 – 9</a>

Canary Capital applies to launch spot HBAR exchange-traded product

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