Emre Yumlu 
Canary, which has been in the spotlight lately with several ETF applications, has made a surprise spot ETF application for an altcoin.
In the cryptocurrency market, significant developments are unfolding, particularly regarding Bitcoin and other digital assets being presented as investment vehicles. Canary Capital stands out as an active player in the exchange-traded funds (ETFs) space for cryptocurrencies.
The State of Crypto ETF Applications and Investor Interest
Interest in cryptocurrency ETFs is increasing as they offer investors easier access to digital assets while providing regulatory security. The acceptance of some crypto ETF applications by the SEC has contributed to reducing regulatory uncertainty and boosting investor confidence.
Specifically, ETF applications for altcoins like Litecoin and Solana are considered highly likely to be approved. Analysts predict a 90% chance of Litecoin ETFs getting approved, with Solana and XRP ETFs expected to have approval probabilities of 70% and 65%, respectively.
Which Altcoin Did Canary Apply for Spot ETF This Time?
Canary Capital has caught the attention of the crypto investment world by filing a spot ETF application for HBAR, the native cryptocurrency of the Hedera network. This application reflects the growing demand for a product that allows investors to gain direct exposure to HBAR. Canary Capital aims to offer HBAR as an investment vehicle and provide investors with a secure way to invest in this digital asset.
The popularity of spot ETFs, especially following the approval of ETFs for major cryptocurrencies like Bitcoin and Ethereum, has been increasing. Therefore, Canary’s application for a spot ETF for HBAR could further raise investor interest in the space. The Hedera (HBAR) network’s fast transaction confirmations and low fees make it stand out from other blockchain projects, making HBAR an attractive option for investors.
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