Nasdaq has filed to list the Canary HBAR ETF, an investment fund designed to provide exposure to Hedera’s native token, HBAR. The filing is part of a growing trend of applications seeking regulatory approval for altcoin-based ETFs. Canary Capital initially submitted its proposal in November, aiming to capitalize on investor interest in Hedera’s hashgraph technology.
Canary Capital has previously filed for ETFs tracking Solana, Litecoin, and XRP, highlighting increasing demand for regulated investment products in the crypto space. Other asset managers have also proposed ETFs for Polkadot, Dogecoin, and the Official Trump token. However, approval from the U.S. Securities and Exchange Commission (SEC) remains pending.
Following the political shift under President Trump’s second term, the SEC has softened its stance on crypto-related financial products. Two crypto index ETFs have already launched in early 2025, with analysts predicting more approvals. Bloomberg Intelligence estimates a 65% chance of an XRP ETF getting approved, with even higher odds for Litecoin and Solana.
The SEC previously approved Bitcoin and Ether spot ETFs in 2024 but remained cautious regarding other cryptocurrencies. Market participants are now closely watching whether the regulatory environment will continue to evolve, enabling broader ETF adoption for altcoins.
