Nasdaq has recently filed Form 19b-4 with the U.S. Securities and Exchange Commission (SEC) to list and trade shares of the Canary HBAR ETF.
This ETF intends to follow the spot price of Hedera Network’s native cryptocurrency, HBAR. This move follows Canary Capital’s earlier launch of the first U.S. HBAR Trust in October 2024 and a subsequent S-1 registration statement for an HBAR ETF filed in November 2024.
Canary Capital CEO Steven McClurg noted Hedera’s high transaction volume and real-world scalability as key factors for the fund’s establishment.
Nasdaq’s registration comes as Canary Capital’s spot Litecoin ETF approaches possible SEC clearance. According to Bloomberg analyst Eric Balchunas, Litecoin’s regulatory future appears positive because it is classed as a commodity by the CFTC and has not encountered SEC legal issues.
The fund, listed under the ticker LTCC, has already appeared on the Depository Trust and Clearing Corporation (DTCC), a step toward launch.
Canary Capital is developing ETFs for other cryptocurrencies, like XRP and Solana, in addition to HBAR and Litecoin. The firm has registered for a spot XRP ETF, and the SEC has accepted the filing, indicating that it intends to increase crypto investing opportunities.
Additionally, Canary Capital recently launched the Canary AXL Trust, designed for institutions and accredited investors seeking secure exposure to AXL, the token behind the Axelar Network’s blockchain interoperability technology. This marks the first investment product focused on blockchain interoperability.
