AI Summary
- Hedera (HBAR) board member and former abrdn senior investment manager, Duncan Moir, has joined 21Shares as president. 21Shares is the world’s largest ETP provider and has filed various crypto ETFs in the U.S.
- There are strong speculations that altcoins, such as HBAR, are next in line for an ETF.
- Moir’s addition to the 21Shares team while still maintaining his membership as a Hedera board member gives credit to the reality of an HBAR ETF coming in 2025.
- With such close ties between Hedera and 21Shares, a future HBAR ETF within 2025 is more than possible.
Hedera (HBAR) board member and former abrdn senior investment manager, Duncan Moir, has joined 21Shares as president.
21Shares is the world’s largest ETP provider and has filed various crypto ETFs in the U.S. There are strong speculations that altcoins, such as HBAR, are next in line for an ETF.
Moir’s addition to the 21Shares team while still maintaining his membership as a Hedera board member gives credit to the reality of an HBAR ETF coming in 2025.
Duncan Moir, Hedera board member, joins 21Shares
With such close ties between Hedera and 21Shares, a future HBAR ETF within 2025 is more than possible. According to Eric Balchunas, a Bloomberg analyst, aside from Bitcoin and Ethereum, selected altcoins will also be getting ETF approvals.
Out of multiple altcoins, Solana, Litecoin, HBAR, and XRP were mentioned as top plays for ETF approvals in the U.S. within 2025.
Eric Balchunas highlighted HBAR and Litecoin due to them both never having been labeled securities, with Litecoin especially being a fork of Bitcoin, making both tokens easy to navigate through regulatory fields.
With Duncan Moir maintaining his role at Hedera, there may be a chance for direct communications between 21Shares, Hedera, and abrdn, which may produce new collaboration efforts aside from potential ETF news.
HBAR ETF and Trust Fund
In November 2024, Canary Capital filed an S-1 registration statement for a Hedera HBAR ETF to the SEC.
Canary Capital’s HBAR ETF would track the native asset of the Hedera network allowing non-crypto investors to gain exposure to Hedera Hashgraph and its wider ecosystem.
The filing came after Canary’s launch of an HBAR Trust Fund in October 2024 for accredited investors.
For Canary Capital, the HBAR Trust served as a pathway toward the filing of an HBAR ETF and in the near future, its eventual approval.
From Steven McClurg of Canary Capital:
The accelerating demand for crypto offerings seems to be exponential since this year’s launch of Spot Bitcoin ETFs.
Yet, there remains a gap regarding firms with institutional experience who are willing to continue to innovate and deliver solutions beyond retail products.
We founded Canary to lead the way for the next iteration of actively managed crypto offerings with a focus on risk management and adaptive, strategic foresight.”
