Investment management firm Canary Capitalhas filed application for HBAR ETF in yet another push for more crypto-based funds in the United States. While unexpected, the Canary HBAR ETF will mark the latest from the firm as it doubles down on the hype around the incoming Donald Trump administration.
The Canary HBAR ETF – The Odds
This latest filing from Canary Capital is coming as a major shock to many ETF experts. This is because many do not know much about the Hedera Network and its ecosystem. This is not unexpected since the entire crypto revolution is just going mainstream.
Despite the relative obscurity of Hedera to mainstream market participants, Canary Capital said the fund will hold HBAR. The filing also noted that it will establish the coin’s Net Asset Value (NAV) by referencing the price of HBAR in US Dollars as calculated by Coindesk.
As reported earlier by Coingape, Canary Capital pioneered the Litecoin ETF filing move, and this HBAR ETF pursuit makes it the most aggressive asset manager for crypto.
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Godfrey Benjamin
Benjamin Godfrey is a blockchain enthusiast and journalists who relish writing about the real life applications of blockchain technology and innovations to drive general acceptance and worldwide integration of the emerging technology. His desires to educate people about cryptocurrencies inspires his contributions to renowned blockchain based media and sites. Benjamin Godfrey is a lover of sports and agriculture.
Disclaimer: The presented content may include the personal opinion of the author and is subject to market condition. Do your market research before investing in cryptocurrencies. The author or the publication does not hold any responsibility for your personal financial loss.
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