Canary Capital Files Application to Launch HBAR ETF

Reading Time: < 1 minute

Canary Capital, an investment management firm, has recently filed an application for a HBAR ETF in the United States, showing their strong interest in funds into their portfolio.

This comes as a surprise to many ETF experts, as they are not familiar with the Hedera Network and its ecosystem. However, with the growing popularity of cryptocurrencies, it is not surprising that more firms are exploring this market.

Canary Capital’s filing indicates that the fund will primarily hold HBAR and establish its Net Asset Value (NAV) by referencing the price of HBAR in US Dollars. This shows their confidence in the potential of HBAR as a valuable asset.

This move comes after Canary Capital’s previous success with pioneering the Litecoin ETF filing and their pursuit of other crypto-based funds such as a Solana ETF and XRP ETF.

This highlights their aggressive approach towards investing in the crypto industry.