Canary Capital, an investment management firm, recently filed an application for a HBAR ETF, making it the latest in the company’s push for more crypto-based funds in the United States. This filing comes as a surprise to many ETF experts, as it highlights the Hedera Network and its ecosystem, which are relatively unknown among mainstream market participants.
Despite its relative obscurity, Canary Capital says that the fund will hold HBAR. The company will establish the coin’s Net Asset Value (NAV) by referencing the price of HBAR in US Dollars as calculated by Coindesk. Canary Capital previously pioneered the Litecoin ETF filing movement, making it the most aggressive asset manager for crypto.
