AI Summary
- Three months ago, Canary Capital filed for a spot HBAR ETF with the SEC, the first of its kind in a run-up to altcoin ETF launches. Over the past week, Canary Captial’s XRP ETF and Litecoin ETF have both been officially acknowledged by the SEC.
- With the SEC’s confirmation of Canary Capital’s exchange funds, could an acknowledgment of HBAR in particular be up next.
- Canary Capital has filed for multiple altcoin ETFs since 2024, with top picks being HBAR, Litecoin, and Ripple’s XRP.
- With Brazil’s Securities and Exchange Commission (CVM) fast-tracking an XRP ETF approval with Hashdex, the US’s SEC could be influenced by performances. For Hedera, an ETF acknowledgment may be due sooner than the market thinks.
Three months ago, Canary Capital filed for a spot HBAR ETF with the SEC, the first of its kind in a run-up to altcoin ETF launches.
Over the past week, Canary Captial’s XRP ETF and Litecoin ETF have both been officially acknowledged by the SEC.
With the SEC’s confirmation of Canary Capital’s exchange funds, could an acknowledgment of HBAR in particular be up next?
Could HBAR ETFs be next to gain SEC comments ?
Canary Capital has filed for multiple altcoin ETFs since 2024, with top picks being HBAR, Litecoin, and Ripple’s XRP.
The investment management firm specializes in institutional crypto asset trading management for accredited investors seeking exposure to cryptocurrencies and digital assets.
In recent weeks, the SEC has made multiple acknowledgments for ETFs from leading firms including 21Shares, Grayscale Investments, and Canary Capital, all bidding to be the first to gain approvals for ETF listings.
According to ETF analysts, Hedera, Litecoin, Solana, Cardano, and XRP are the top altcoins outside of Ethereum, to gain approvals in 2025 with Litecoin and Hedera being easy pickings for regulators.
As a fork of Bitcoin, Litecoin is an easy choice for regulators due to its existence as a simple trading asset, mimicking BTC. For Hedera, HBAR has strong institutional links and has followed regulatory compliances since its inception.
Ripple’s XRP is more complicated due to its current case with the SEC which may soon be dismissed. Despite this, acknowledgments from the SEC on XRP ETFs have referred to the funds as Commodity-Based Trust Shares.
Waiting for progress on Hedera ETFs with Canary Capital
With Brazil’s Securities and Exchange Commission (CVM) fast-tracking an XRP ETF approval with Hashdex, the US’s SEC could be influenced by performances.
For Hedera, an ETF acknowledgment may be due sooner than the market thinks. It’s no secret that Duncan Moir, a Hedera Board Member, joined 21Shares as president.
According to Bloomberg’s Eric Balchunas, Canary Capital has also received comments back on their Litecoin ETF filing. Balchunas’s believes Litecoin may be the first altcoin other than Ethereum, to reviewed an ETF approval.
With such strong industry links and connections, a Hederea ETF acknowledgment, and following approval, could arrive soon with little opposition.
