Canary Capital has filed a 19b-4 form with the U.S. Securities and Exchange Commission (SEC) for the first ever spot Hedera HBAR exchange-traded fund (ETF) to be listed on Nasdaq. This filing follows an earlier S-1 registration submitted by the firm in November for the same ETF, which aims to provide investors with exposure to the value of the native asset of the Hedera Network. The Hedera Network utilizes the Hashgraph consensus algorithm to facilitate fast and secure transactions globally. It is governed by a council of prominent companies and organizations, and while its primary function is not as a payments system or store of value, it requires a cryptocurrency to incentivize consensus and behavior on the network. Bloomberg analyst Eric Balchunas noted that the recent filing comes after Canary Capital amended its S-1 last week, following comments from the SEC. This positions the HBAR ETF, alongside Litecoin, as having favorable odds among the current wave of altcoin spot ETF applications. The price of Hedera's token saw a small spike and was trading at around $0.22 at the time of the filing. Regulatory shifts post-Gensler have contributed to the increased interest in altcoin ETFs. To continue reading this as well as other DeFi and Web3 news, visit us at thedefiant.io
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