A great news for Hbar and Litecoin. The NASDAQ officially filed a 19B-4 form to the SEC, requesting the approval to list and negotiate the shares of the Canary Hbar ETF. According to Bloomberg analyst, Eric Balchunas, this place Hbar and Litecoin in the best position among the current deposits of ETF Altcoin, increasing their chances of obtaining regulatory approval before others. This ETF is designed to follow the real-time price of Hbar, the 21st largest cryptocurrency by market capitalization.
This deposit marks a significant expansion of the Crypto Crypto Investment Products of Canary Capital, after the launch of its Hbar Trust in October 2024 and an initial FNB (S-1) recording in November.
What it means for Hbar?
If it is approved, the ETF would allow investors to expose themselves to the Hedera Hbar token without buying or holding it directly. This type of institutional investment vehicle has always been considered a positive development for the adoption of cryptography, which facilitates traditional investors to enter space.
The Hbar price reacted positively to the news, increasing 5% after the Nasdaq deposit. This follows a jump of 20% after the S-1 deposit in November, showing a strong enthusiasm of investors for an HBAR ETF.
Canary Capital’s growing influence in Crypto ETF
Canary Capital also pursues other cryptocurrency ETFs. In addition to the Hbar ETF, the firm has filed an ETF Litecoin spot, which is now awaiting approval from the dry. According to Bloomberg analyst, Eric Balchunas, Litecoin’s regulatory prospects seem favorable, because it has not been taken in legal disputes with the SEC and was classified as commodity by the CFTC.
The Litecoin ETF spot has already been listed on the Trust and Clearing Corporation (DTCC) deposit under the Ticker “LTCC”, an essential step towards its launch.
More FNB crypto in the pipeline
Canary Capital does not stop in Hbar and Litecoin. The company has also deposited an ETF XRP Spot, which the SEC has already recognized. In addition, there are reports that Canary explores similar investment products for Solana (soil), indicating a wider thrust for Crypto ETF.
The introduction of more punctual Crypto FNB indicates an increasing interest in making digital assets more accessible to institutional investors. Although the SEC decision on HBAR ETF is still pending, this deposit represents a major step towards the adoption of traditional cryptography. If it is approved, it could open the way to more investment products based on blockchain in the future.
