More

    Canary Capital Files for First Hedera (HBAR) Spot ETF with SEC: Will It Be Approved?

    Hester Peirce Calls for Early Approval of Bitcoin ETFs as Criticism for Gary Gensler Intensifies

    The post Canary Capital Files for First Hedera (HBAR) Spot ETF with SEC: Will It Be Approved? appeared first on Coinpedia Fintech News

    It seems that the hype surrounding ETFs is back again following Donald Trump’s comeback as another spot ETF filing was submitted after XRP. Canary Capital has submitted an S-1 registration with the U.S. Securities and Exchange Commission to launch the first-ever Hedera (HBAR) spot exchange-traded fund (ETF). This ETF aims to provide investors with direct exposure to HBAR, the native asset of the Hedera Network.

    Canary Explores Buying Demand in HBAR

    Canary Capital has filed an S-1 registration with the U.S. SEC to launch an exchange-traded fund (ETF) focused on Hedera’s HBAR token. If approved, this would be the first ETF allowing investors to gain exposure to HBAR, Hedera’s native token, on a public exchange.

    An S-1 is the SEC’s standard filing for companies looking to go public or offer investment products like an ETF. This would let investors access HBAR’s value in a regulated way, without needing to directly buy or hold the token.

    Also read: 21Shares Files S-1 With SEC for XRP ETF, Joining Bitwise and Canary Capital in Race for Ripple Investment Product

    HBAR is the native cryptocurrency of the Hedera network, which utilizes the Hashgraph consensus algorithm to operate as a decentralized public network. Hedera enables rapid and secure global transactions and is overseen by a council comprising notable companies and organizations.

    This governance structure aims to ensure secure, compliant decision-making and token distribution. HBAR supports various functions within the Hedera ecosystem, such as powering decentralized applications, enabling transactions, and improving network governance.

    The Canary HBAR ETF, as outlined in its S-1 filing, plans to only invest in HBAR without employing derivatives, futures, or other financial instruments. The filing does not specify a custodian or administrator.

    Canary Capital, founded by Steven McClurg—who also established Valkyrie Funds known for its spot crypto ETFs—previously launched an HBAR Trust in October for accredited investors. Additionally, Canary Capital has filed for registration of other spot cryptocurrency ETFs, including for Litecoin, Solana, and XRP.

    What’s Going Between Trump and SEC?

    The approval of additional spot crypto ETFs by the SEC remains uncertain. Earlier in the year, the agency sanctioned 11 spot bitcoin ETFs and subsequently approved eight Ethereum ETFs.

    These filings are submitted as speculation grows that Gary Gensler, the current SEC Chair known for his critical views on cryptocurrencies, might resign ahead of the incoming presidential administration. The President-elect, Donald Trump, has also expressed intentions to dismiss Gensler if he assumes office.

    Representatives for Trump are reportedly evaluating potential candidates for the SEC chairmanship, including Robinhood’s Chief Legal Officer Dan Gallagher, former Republican SEC commissioner Paul Atkins, and Robert Stebbins, a former SEC general counsel.

    However, experts point out that Trump cannot legally remove Gensler from his position without a valid reason. While it is common for regulators to resign following a shift in the political scene at the White House, there has been no indication from the SEC chair that he intends to step down.

    Related articles

    Donald Trump Appoints Paul Atkin as New SEC Chair, Fact or Rumor?

    The post Donald Trump Appoints Paul Atkin as New SEC Chair, Fact or Rumor? appeared first on Coinpedia Fintech News As the cryptocurrency market experiences a price correction, several social media posts claim that President-elect...

    Time to Buy Cardano? $230M ADA Outflows Signal Bullish Rally

    The post Time to Buy Cardano? $230M ADA Outflows Signal Bullish Rally appeared first on Coinpedia Fintech News The recent election results have shifted overall market sentiment. Amid this, Cardano (ADA) along with other major...

    South Korea Martial Law Triggers Crypto Market Crash : Bitcoin and Altcoins Plunge

    The post South Korea Martial Law Triggers Crypto Market Crash : Bitcoin and Altcoins Plunge appeared first on Coinpedia Fintech News In the latest development, Cryptocurrency prices plunged and exchanges were paralyzed after South Korean...

    Stay Alert of Crypto Scammers in Holiday Season

    The post Stay Alert of Crypto Scammers in Holiday Season appeared first on Coinpedia Fintech News As the holiday season starts and people are busy shopping and enjoying themselves, scammers are getting busy as well....

    Bitcoin Price Analysis: Will BTC Break $98.7K or Fall to $90K?

    The post Bitcoin Price Analysis: Will BTC Break $98.7K or Fall to $90K? appeared first on Coinpedia Fintech News Bitcoin (BTC) price has failed to rally beyond the crucial threshold of around $98.7k in the...

    Latest articles

    LEAVE A REPLY

    Please enter your comment!
    Please enter your name here