Canary Capital has filed with the SEC to launch a spot Hedera (HBAR) exchange-traded fund (ETF), intending to provide US investors access to this crypto asset. The filing was made on November 12 via a Form S-1 registration statement. Canary's proposal is noteworthy as it represents one of the first attempts to establish a spot HBAR ETF, in addition to similar products for Solana and XRP. Notably, the proposed ETF will avoid using HBAR-linked derivatives or futures to sidestep regulations from the US Commodity Futures Trading Commission. As of the time of the filing, HBAR's market capitalization exceeded $2.5 billion, trading approximately at $0.07. The approval of spot ETFs for Bitcoin and Ether earlier this year has raised expectations for similar products in the market, although the approval landscape remains uncertain, particularly with anticipated leadership changes within the SEC under incoming President-elect Donald Trump. This shift may influence the future of crypto regulation in the US.

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