Canary Capital’s Wild Leap Into Hedera ETF 🦜💰

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Once upon a stock exchange, a cunning little asset management firm, Canary Capital, decided to flap its wings and fly straight into the domain of ETFs. Oh, but not just any ETF! This was a Hedera ETF, the sparkly, shiny HBAR-backed treasure that promised to dazzle the socks off the crypto kingdom. They even tossed a gleaming 19b-4 filing to the mighty U.S. Securities and Exchange Commission (SEC). Bold, wouldn’t you say? Or maybe just bananas. 🍌

Hedera ETF: A Magical Potion or Just Another Fizz?

With all the fanfare of a carnival barker, the Nasdaq Stock Market LLC shoved a formal application — on behalf of our feathery friends at Canary Capital — right under the SEC’s nose. Picture this scene: quill pens thrown aside, eyes squinting at the illegibly fancy fonts of a high-stakes document. It’s a rule-change proposal to launch the Hedera ETF, undoubtedly the next big crypto attraction (or so we’re told). This filing followed the S-1 registration statement from yesteryear, shouting, “Look at us, we’ve arrived! 🐦✨”

And there’s the 19b-4 $HBAR filing from @CanaryFunds/@Nasdaq. 🧐

— Eleanor Terrett (@EleanorTerrett) February 24, 2025

Now, here’s the fun part: if SEC gives this filing a mighty thumbs-up 👍, we might just get a thrilling 240-day ride to approval town. It’s like waiting for Christmas, but in bureaucratic calendar days. SEC has, after all, proven it likes shiny new things — Dogecoin ETF, anyone? Oh yes, it’s a time of infinite possibilities… and perhaps infinite red tape. 🎁

Canary Capital, our plucky protagonist, claims to be the ONLY asset manager courageous enough to hop on the Hedera bandwagon. Let’s all clap for their audacity! What’s drawn them to Hedera, you ask? It’s innovation, of course. A fancy word for “Look at all the techy stuff these guys are doing — top-notch solutions, big tech validators, and whatnot!” Hedera, it appears, is the cool kid at the crypto lunch table. 😎

Cracking the Crypto Code with Regulators 🤹‍♀️

Meanwhile, the wider crypto world seems to be riding a sugar high. Everyone’s pushing for their flavor of ETFs — the XRP! Solana! Litecoin! Dogecoin! (Yes, DOGE again, because who doesn’t love a meme?). And lookie here, the new SEC boss, Mark Uyeda, seems to actually LIKE crypto. Or at least he’s not grumbling about it constantly. Maybe, just maybe, the icy regulatory winds are starting to thaw. ☀️

According to some Bloomberg Senior ETF analysts (who sound very serious and important), Litecoin ETFs might be the frontrunners at a whopping 90% approval odds. Why? It’s a proof-of-work (PoW) network, closely tied to Bitcoin — AKA, the granddaddy of crypto. As for poor Hedera ETF, it’s still just a “commodity” twinkling hopefully in the eyes of these now less-grumpy regulators. 🍀

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2025-02-24 19:33