- Canary Capital filed an S-1 registration for the HBAR ETF in November
- Bloomberg ETF analyst Eric Balchunas said HBAR and Litecoin are in “pole position” among the altcoin ETF filings
Nasdaq has filed a 19b-4 form with the US Securities and Exchange Commission (SEC) to list and trade a Hedera HBAR exchange-traded fund (ETF).
The filing is on behalf of Canary Capital and comes at a time of increasing interest in crypto ETFs.
The latest filing follows Canary’s S-1 registration for the HBAR ETF last November, submitted shortly after the launch of its HBAR Trust.
In a post on X, Eric Balchunas, senior Bloomberg ETF analyst, said HBAR and Litecoin have the best odds of approval from the SEC and are in “pole position among the current slew of altcoin ETF filings.”
Canary just filed the 19b-4 for their HBAR ETF. This comes on heels of them amending S-1 last week (which means SEC gave comments which gives HBAR and Litecoin the best odds and the pole position among the current slew of alt coin ETF filings) pic.twitter.com/qxJIhEwBNY
— Eric Balchunas (@EricBalchunas) February 24, 2025
Litecoin ETF
Nasdaq’s latest filing comes as it submitted a 19b-4 form for a Canary Litecoin ETF in January following on the heels of its S-1 form to the SEC.
The move from both companies highlights expanding interest in various crypto ETFs after the successful launch of US Bitcoin ETFs and Ethereum ETFs in 2024. Other altcoin ETFs in the running include Dogecoin, Solana, and XRP.
Given the fact that Litecoin has avoided any issue with the SEC, Balchunas and fellow Bloomberg ETF analyst James Seyffart believe a Litecoin ETF will be the next to receive SEC approval.
Keen to offer its investors exposure to a variety of crypto, Canary Capital has also applied for an XRP ETF. However, it faces competition from the likes of 21Shares, Bitwise, Canary Capital, and WisdomTree.