Canary Capital Files for First Spot ETF Focused on HBAR
- Canary Capital submits ppliction for th first-vr spot ETF focusd on Hedera (HBAR), xpnding crypto invstmnt options.
- Th proposd ETF would provid dirct ccss to HBAR, xcluding drivtivs or complx finncil instrumnts.
- Th filing rflcts xpcttions of rgultory shifts s SEC ldrship my chng undr nw dministrtion.
Canary Capital, lding invstmnt firm, submittd n ppliction to th U.S. Scuritis nd Exchng Commission (SEC) for th first-vr spot xchng-trdd fund (ETF) focusd on Hedera (HBAR). Submittd on Novmbr 12, this mrks significnt milston in crypto finnc. Most crypto ETFs hv cntrd on Bitcoin nd Ethrum, but this filing could xpnd invstmnt options.
Th S-1 rgistrtion sttmnt for th HBAR ETF provids dirct ccss to HBAR, Hedera s ntiv tokn. HBAR runs on Hedera s public dcntrlizd ntwork, powrd by th Hshgrph consnsus lgorithm, known for its scurity nd spd. Hedera is govrnd by council of mjor orgniztions, nsuring rlibl dcision-mking nd tokn distribution. HBAR srvs s utility tokn for dcntrlizd pplictions, trnsctions, nd govrnnc within th ntwork.
Canary Capitals Expanding Crypto ETF Range
Canary Capitals proposd ETF ims to hold HBAR dirctly, xcluding drivtivs or complx finncil instrumnts. Unlik crypto ETFs rlint on futurs, this would offr purr xposur to HBAR. Howvr, dtils lik th custodin nd dministrtor r not spcifid in th filing. This follows th lunch of n HBAR Trust in Octobr for ccrditd invstors, providing nothr option for high-nt-worth individuls.
This ppliction coms s th SECs stnc on crypto-bsd finncil products volvs. Erlir this yr, th SEC pprovd 11 spot Bitcoin ETFs nd ight Ethrum ETFs, but dditionl spot crypto ETF pprovls rmin uncrtin, givn SEC Chir Gry Gnslrs cutious pproch. His potntil dprtur or rplcmnt undr nw prsidntil dministrtion my influnc th gncys pproch towrd such ETFs.
Nt Grci, Prsidnt of th ETF Stor, notd tht Canary Capitals filing might signl xpcttions of rgultory chngs undr nw dministrtion. H suggstd tht ETF issurs could bcom mor ggrssiv with filings if rgultions shift.
Potential New SEC Leadership
Amid th chnging politicl climt, rports suggst tht Robinhood Chif Lgl Officr Dn Gllghr, formr SEC commissionr Pul Atkins, nd formr SEC gnrl counsl Robrt Stbbins r bing considrd s potntil succssors to Gnslr. This prospctiv ldrship chng, coupld with sttmnts from Prsidnt-lct Donld Trump, who hs xprssd intntions to rplc Gnslr if lctd.
Gnslr, rflcting on th SECs Jnury pprovl of spot Bitcoin ETFs, notd tht th dcision ws limitd to spcific filings. In CNBC intrviw, h sttd, W hv othr filings in front of us, but Im not going to prjudg it for you or th udinc. This indicts cutious pproch, yt th ppliction for spot HBAR ETF could srv s tst cs for th SECs stnc on crypto invstmnts byond minstrm ssts lik Bitcoin nd Ethrum.
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Read more: https://www.tronweekly.com/canary-capital-files-for-first-spot-hbar-etf/
Text source: TronWeekly
