Canary HBAR ETF buzz sends Hedera price soaring

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Written on Feb 24, 2025

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Hedera price jumped over 5%, rising amid ETF news.
Nasdaq filed to list Canary Capital's HBAR spot ETF via 19b-4 on Feb. 24.
Hedera is among multiple altcoins with spot ETF filings before the US Securities and Exchange Commission (SEC)

Nasdaq has submitted form 19b-4 filing for the Canary Capital Hedera (HBAR) exchange-traded fund (ETF) with the US Securities and Exchange Commission (SEC).

Whale Insider shared the news on Monday, Feb. 24.

The development comes just days after Canary Capital filed its amended S-1 for the HBAR ETF with the SEC.

As the community reacted to the latest news, the price of Hedera’s native token rose from intraday lows of $0.2006 to trade above $0.22.

CoinMarketCap data at the time of writing showed HBAR price was up more than 5% in the past 24 hours.

Most of the gains came as HBAR ETF filing news emerged.

While the Hedera token traded in the red over the past month, the upward flip erased the losses seen last week.

A potential retest of $0.25 means buyers have a chance to target the supply wall around $0.27 and then $0.30.

Nasdaq files HBAR ETF 19b-4 with SEC

The US Securities and Exchange Commission (SEC) has over the past month taken steps that have the crypto market bullish.

Developments include the launch of a crypto task force to revamping of its digital assets enforcement unit.

The regulator has also agreed to drop its lawsuit against Coinbase and end the investigation against Opensea.

Amid these has also been the acknowledgment of several spot ETF applications, including for Litecoin, XRP and Solana.

The SEC’s nod for crypto index ETFs is another major positive move in recent weeks.

However, the regulator has yet to approve another altcoin spot ETF after the greenlight it gave for the launch of Ethereum spot exchange-traded ETFs in the second half of 2024.

Bitcoin spot ETFs received the agency’s nod in January of 2024.

Notably, among the highly anticipated ETFs is one that tracks HBAR Hedera’s native token is currently the 19th largest crypto by market cap.

What does Nasdaq’s filing mean?

Analysts have opined that there’s a high chance the SEC approves the Litecoin spot exchange-traded fund in 2025.

The analyst’ 90% odds for the LTC ETF approval is down to the cryptocurrency’s proof-of-work (PoW) mechanism.

In essence, this makes Litecoin similar to Bitcoin, and thus deemed a commodity.

While Hedera and the other coins are different, analysts say the filing of 19b-4 is crucial.

The main take is that the next step is the SEC to acknowledge the ETF’s proposed rule change and set the ball rolling with community feedback timelines.

HBAR has soared more than 5% and further positive news could drive prices higher.

The notable thing is that Hedera is also largely bullish given the traction the project is seeing across the real-world ass tokenization market.

Approval for a spot HBAR ETF alongside those of XRP, Solana, Dogecoin and Litecoin could offer a fresh catalyst.