๐งพ SEC ๐ Opens Formal Review of Canary Hedera (HBAR) ETF Proposal - Great opportunity ahead! ๐ฐ๐ฅ
๐ Whatโs Happening:
The U.S. SEC has launched a formal review of the Canary HBAR ETF, which would be the first ๐บ๐ธ U.S.-listed fund offering direct exposure to Hederaโs native token (HBAR).
๐ฆ ETF Details:
Sponsor: ๐ชถ Canary Capital Group
Custodians: ๐ BitGo & Coinbase Custody
Benchmark: ๐ CoinDesk Hedera USD Index
Structure: ๐ Physically backed by HBAR
Redemptions: ๐ In 10,000 share blocks (๐ต cash or ๐ in-kind)
๐ Regulatory Focus:
The SEC is evaluating whether the ETF meets standards for:
โ Market integrity
๐ก Investor protection
๐ง Liquidity & ๐ก pricing transparency
๐ซ Resistance to manipulation
๐ Adequate surveillance mechanisms
๐ Timeline:
๐ณ Public comment deadline: July 7, 2025
๐ฌ Rebuttals due: July 21, 2025
๐ Market Reaction:
HBAR's price has dropped ๐ป8% in 24 hours to $0.1492, despite the ETFโs potential to open doors to institutional ๐ฆ exposure.
๐ Broader Context:
This mirrors other altcoin ETF filings like ๐ DOGE and ๐ DOT, and signals the SECโs slow but growing openness to structured crypto investment products ๐.
Are you buying Hedera (HBAR) now? ๐ค๐
Buy the dip! ๐๐