Nasdaq, on behalf of Canary Capital, has filed a 19b-4 application for a spot HBAR ETF designed to offer exposure to Hedera’s native token. This regulatory move coincides with recent technical movements in Hedera (HBAR), which surged to a 24-hour high of $0.225 and briefly pushed its market cap to $9.44 billion.
Quick Take
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Nasdaq has submitted a 19b-4 filing for the Canary HBAR ETF, advancing the approval process with the SEC.
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The ETF will provide exposure to Hedera’s native token, HBAR, which is not classified as a security by the SEC.
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HBAR experienced a 6% surge, peaking at $0.225 and briefly reaching a market cap of $9.44 billion.
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A range of altcoin ETF filings—including those for XRP, Solana, Litecoin, and Dogecoin—highlight growing institutional interest in cryptos.
Canary’s HBAR ETF the Latest Among Recent Crypto ETF Filings
Source: X
In recent months, the regulatory spotlight has increasingly focused on altcoin-based exchange-traded funds (ETFs). Nasdaq’s filing of a 19b-4 application on behalf of Canary Capital marks the latest move in a wave of submissions to the U.S. Securities and Exchange Commission (SEC). Canary Capital, already a pioneer with its amended S-1 registration filed in November, is positioning the Canary HBAR ETF to capture investor interest in Hedera’s native token, HBAR.
The ETF application is part of a broader trend among asset managers and exchanges seeking to list ETFs that track alternative cryptocurrencies. With products already in the pipeline for XRP ETF, Solana ETF, Litecoin ETF, and even Dogecoin ETF, the competitive field is heating up. Analysts have noted that altcoin ETFs not classified as securities—like HBAR—may enjoy smoother approval processes, potentially accelerating their market debut.
What’s Next After the 19b-4 Filing?
The ETF filing process involves two crucial steps: the initial S-1 registration followed by a 19b-4 filing. The latter, recently submitted by Nasdaq on behalf of Canary Capital, initiates the SEC’s formal review procedure by being published in the Federal Register. This filing not only signifies compliance with regulatory standards but also reflects the feedback provided by the SEC, which could be instrumental in expediting approval.
The SEC’s evolving stance on cryptocurrency is evident in its recent approvals of spot Bitcoin ETFs and Ether ETFs. While the agency continues to scrutinize altcoin proposals, the unique regulatory position of HBAR—owing to its non-security classification—may provide it with a distinct advantage in the crowded ETF landscape.
HBAR Price Faces Resistance at $0.20 as Sentiment Weighs
HBAR/USDT price chart | Source: KuCoin
Parallel to the regulatory developments, HBAR has been experiencing notable technical fluctuations. Recent market data reveals a 6% increase that saw HBAR spike to a 24-hour high of $0.225, briefly pushing its market cap to an impressive $9.44 billion. However, technical indicators such as the Bollinger Band Trend (BBTrend) have signaled persistent bearish momentum, with values dropping to -0.71 after a temporary recovery.
The Ichimoku Cloud analysis suggests that while there is potential for a bullish reversal—particularly if short-term EMA lines cross above long-term ones—the current market sentiment remains cautious. Should buying interest strengthen, HBAR could test resistance at $0.24, possibly paving the way for further gains. Conversely, sustained negative momentum may lead to further price consolidation near lower support levels.
Looking Ahead: The Future of HBAR and Altcoin ETFs
The approval of the Canary HBAR ETF could be a game-changer, not only for Canary Capital but also for the broader altcoin ETF ecosystem. With a growing number of applications in the works and regulatory shifts favoring crypto innovations, market participants are closely watching the SEC’s next steps. Analysts predict that as more altcoin ETFs gain traction—bolstered by the non-security status of assets like HBAR—the landscape for digital asset investments could undergo significant transformation.
For investors, the coming months will be pivotal. The interplay between regulatory progress and market sentiment could set the stage for a new era of institutional adoption in the crypto market.
Read more: XRP Surges 15% to $2.66: ETF Approvals and a Potential $6 Rally in Sight
