Orhan 
Cryptocurrency investment firm Canary Capital has filed an application with the U.S. Securities and Exchange Commission (SEC) for a spot exchange-traded fund (ETF) for Hedera (HBAR). Following the approval of Bitcoin and Ethereum ETFs, altcoin ETF applications have gained momentum.
In the filing made on Tuesday, Canary Capital presented a plan for an ETF aimed at providing direct exposure to the value of HBAR, the native cryptocurrency of the Hedera Hashgraph network. Canary Capital had previously launched an investor trust for HBAR in October.
Hedera Hashgraph and HBAR’s Role
HBAR is the native cryptocurrency of the Hedera Hashgraph network, a distributed ledger technology platform designed to provide high performance, security, and governance. It is used to support decentralized applications, facilitate transactions, and participate in network governance.
The application stated that the HBAR ETF would aim to hold only HBAR directly, avoiding financial instruments such as derivatives or futures. No custodian or manager has yet been named in the filing.
SEC’s Cryptocurrency ETF Policy and Future Expectations
Earlier this year, the SEC approved 11 spot Bitcoin ETFs and eight Ethereum ETFs. However, it remains uncertain whether the SEC will approve more altcoin ETFs. Speculation about SEC Chairman Gary Gensler’s potential resignation has increased, with expectations of a leadership change, as Donald Trump has indicated plans to remove Gensler if elected.
Nate Geraci, President of ETF Store, said, “This filing is a sign that some ETF issuers expect significant changes in the regulatory winds surrounding crypto. Under a new Trump administration, we could see a more aggressive approach to crypto ETF filings at the SEC.”
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