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Canary Capital Files S-1 Registration for HBAR ETF, HBAR Price Reacts
Canary Capital Files for HBAR ETF
Canary Capital has submitted an S-1 registration to the SEC for its HBAR ETF, providing investors exposure to Hedera’s altcoin, HBAR. The ETF aims to track the price of the crypto asset and hold HBAR directly. This move expands options for institutional investors to access HBAR.
HBAR Price Update
Following the announcement, HBAR saw a 20% increase in value, but it is currently experiencing a decline along with the overall market sentiment. Despite the recent surge, HBAR is currently trading at $0.056, down 3% from its recent high of $0.064. This drop is influenced by Bitcoin’s sell-off after reaching a record high of $90,000.
Implications of ETF Approval
While the approval of Canary Capital’s HBAR ETF remains uncertain, recent developments suggest that the SEC may be swayed by external factors. Rumors surrounding SEC Chairman Gary Gensler’s potential dismissal or resignation could impact the decision. Investors are advised to monitor the situation closely for any updates.
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The information in the article is for informational purposes only. It does not constitute any investment advice. The author and CryptoBlockNews.com are not responsible for your profits or losses arising from your investments. Investment is ultimately based on many foundations such as knowledge, accumulation, experience, research and personal decisions.
