Hedera 
 Hashgraph's own cryptocurrency 
 HBAR 
 dropped by 6% within a day on October 28, 2025, even though the first U.S. spot exchange-traded fund (ETF) for HBAR was introduced—a milestone highlighted in the 
 SEC poised to approve HBAR ETF 
. The Canary HBAR ETF, which began trading on Nasdaq, saw limited initial interest, with only $8 million in trading volume on its first day. This was a sharp difference from the $56 million seen by the 
 Solana 
 ETF during the same period, according to 
 TradingView coverage 
. The subdued market reaction reflects persistent doubts in the altcoin sector, even as regulatory progress like the SEC's approval of the HBAR ETF points to increasing institutional involvement, as reported by Yahoo. 
  The ETF's debut was a significant event for Hedera, which boasts a governing council featuring Fortune 500 companies such as IBM and Boeing, as detailed in the 
 Canary ETF report 
. Gregg Bell, Hedera’s chief business officer, described the ETF’s approval as a “watershed moment,” highlighting the network’s focus on enterprise tokenization and sustainability, according to Yahoo. However, HBAR’s market performance painted a different picture. Technical signals, including a death cross and weakening on-chain data, pointed to a bearish trend. The token’s value fell from $0.2096 to $0.191, wiping out gains made before the ETF announcement, as noted in a 
 HBAR price analysis 
. 
   Market experts remain cautiously hopeful, according to a 
 Bitget explainer 
. Bloomberg’s Eric Balchunas pointed out that although HBAR’s ETF launch lagged behind Solana’s, it still offers a regulated entry point for institutional investors—something that could encourage long-term growth, as TradingView reported. On the other hand, some critics highlight broader market challenges. The ETF’s quiet rollout happened alongside a general downturn in altcoins, with Litecoin’s ETF seeing just $1 million in trades, as the Canary ETF report indicated. “Investors are adopting a wait-and-see stance,” one strategist explained, referencing continued volatility due to SEC regulatory delays and wider economic uncertainty, as mentioned in the Canary article. 
  Nonetheless, Hedera’s core strengths remain attractive. Its hashgraph consensus technology and alliances with leading corporations have made it a prominent player in enterprise blockchain. Furthermore, the rapid uptake of USDC on Hedera—exceeding $172 million in circulation—has enhanced liquidity, according to the Bitget explainer. Analysts from RBC Capital and Piper Sandler have increased their price forecasts for HBAR, anticipating a recovery as institutional interest steadies. 
  Although short-term challenges persist, the approval of the HBAR ETF signals a larger movement: regulated investment in altcoins is gaining momentum. With seven XRP ETF proposals awaiting decisions and more altcoin ETFs expected, early participants in the market could benefit. For now, HBAR’s future remains unclear, as it navigates technical pressures and its strategic role in the changing crypto landscape.