As the snowflakes of bureaucratic red tape gently fell upon the U.S. Securities and Exchange Commission, Nasdaq quietly submitted its Form 19b-4, a humble plea to list and trade shares of the Canary HBAR ETF. Ah, the thrill of regulatory approval!
This ETF, a veritable canary in the coal mine of cryptocurrency, seeks to follow the spot price of Hedera Network’s native cryptocurrency, HBAR. One can only imagine the excitement of investors as they watch the ticker tape dance with anticipation. And what a coincidence! This move comes hot on the heels of Canary Capital’s launch of the first U.S. HBAR Trust in October 2024, and the subsequent S-1 registration statement for an HBAR ETF filed in November 2024. The plot thickens!
Steven McClurg, CEO of Canary Capital, waxed poetic about Hedera’s impressive transaction volume and real-world scalability, no doubt convincing the SEC of the fund’s viability. One can almost hear the sound of champagne corks popping in the background.
Meanwhile, Nasdaq’s registration is a clever move, what with Canary Capital’s spot Litecoin ETF hovering on the cusp of SEC clearance. Bloomberg analyst Eric Balchunas, that sage of regulatory insight, opines that Litecoin’s future appears rosy, having been classified as a commodity by the CFTC and avoiding those pesky SEC legal issues. The stars are aligning!
The LTCC ticker, a harbinger of things to come, has already made an appearance on the Depository Trust and Clearing Corporation (DTCC), a tantalizing step toward launch. The suspense is killing us!
But wait, there’s more! Canary Capital is busy conjuring ETFs for other cryptocurrencies, including XRP and Solana, because why stop at just HBAR and Litecoin? The firm has registered for a spot XRP ETF, and the SEC has accepted the filing, signaling a veritable crypto investing extravaganza. And, as if that weren’t enough, the Canary AXL Trust has launched, offering institutions and accredited investors a chance to get in on the AXL token action, the first investment product focused on blockchain interoperability. 🎉
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2025-02-24 20:36