Key Takeaways
- Nasdaq filed with SEC to list and trade Canary HBAR ETF shares.
- Canary Capital is expanding its crypto offerings with HBAR and Litecoin ETFs.
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Nasdaq has filed Form 19b-4 with the SEC seeking approval to list and trade shares of the Canary HBAR ETF, an investment product designed to track spot prices of HBAR, currently the 21st largest crypto asset by market capitalization.
The filing follows Canary Capital’s launch of the US’s first HBAR Trust in October and its subsequent S-1 registration statement for an HBAR ETF filed in November, aimed at providing investor exposure to Hedera’s HBAR token.
“As the most used network by transaction count, Hedera is a prime example of the type of enterprise technology that sits at the intersection of crypto and real-world scalability,” said Steven McClurg, Chief Executive Officer at Canary Capital, upon the launch of the firm’s HBAR Trust.
Nasdaq’s filing comes as Canary Capital’s spot Litecoin ETF approaches potential SEC approval for listing and trading, according to Bloomberg ETF analyst Eric Balchunas.
Litecoin’s regulatory outlook may be favorable as it has avoided SEC legal disputes and has been classified as a commodity by the CFTC in its KuCoin lawsuit.
The company’s spot Litecoin ETF has appeared on the Depository Trust and Clearing Corporation (DTCC) under the ticker LTCC, a crucial step toward its potential launch.
In addition to HBAR and Litecoin, the crypto-focused investment firm is also seeking SEC approval to offer investors exposure to other digital assets, such as XRP and Solana. Canary Capital has submitted a spot XRP ETF filing, which has been acknowledged by the SEC.
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