Hedera (HBAR) price jumped 9% to $0.23 following Nasdaq's filing with the SEC to list Canary Capital's HBAR ETF. The application, submitted on February 24, 2025, signals growing institutional interest in the digital asset. Canary Capital's S-1 registration for the HBAR ETF, initially filed in November 2024, remains under review by the SEC. Meanwhile, HBAR's trading volume hit a 20-day peak of $377.4 million during US trading hours, indicating strong market participation.
Why Nasdaq’s HBAR ETF Filing Matters
Nasdaq’s move to list Canary’s HBAR ETF marks a significant step toward mainstream adoption of Hedera-based investment products. The exchange submitted a 19b-4 form to the SEC, seeking approval to trade shares of the ETF, which would track HBAR’s spot price. This development follows Canary Capital’s earlier initiatives, including the launch of a HBAR trust in October 2024 and the S-1 filing in November.
The proposal aligns with a broader trend of rising institutional demand for cryptocurrency ETFs. Canary Capital has already secured a listing for its Litecoin ETF (LTCC) with the Depository Trust and Clearing Corporation (DTCC), a critical milestone for future trading. Analysts suggest that HBAR could follow a similar trajectory if regulatory approval is granted.
Eric Balchunas, Bloomberg’s Chief ETF Analyst, noted on February 24, 2025:
"Canary’s 19b-4 filing for their HBAR ETF, submitted after recent S-1 amendments, positions HBAR and Litecoin as front-runners in the current wave of altcoin ETF applications."
Hedera’s enterprise-focused blockchain technology, known for high throughput and low transaction costs, adds fundamental strength to this institutional push. As one of the most widely used networks by transaction volume, Hedera represents a convergence of crypto and real-world scalability.
Market Response and Technical Analysis
HBAR’s price action reflects optimistic sentiment following the ETF news. The asset opened with a 9% surge but pared gains to around 1% later in the US trading session. Despite this pullback, technical indicators suggest potential for further upside.
Price momentum is approaching key resistance levels, including the middle Bollinger Band and the 20-day Simple Moving Average (SMA). These levels often act as dynamic barriers before significant breakouts. Long lower wicks on recent candlesticks indicate strong buying interest at lower prices, supporting the case for continued upward movement.
Momentum indicators are also turning positive. The MACD histogram shows shallow red bars, signaling weakening bearish momentum, while the MACD line is curving upward, hinting at a potential bullish crossover. Sustained buying pressure could push HBAR toward the upper Bollinger Band at $0.2419, a critical resistance zone. A break above this level might accelerate gains toward $0.25.
Conversely, failure to maintain momentum could lead to a retracement toward the $0.2059 support level, aligned with the lower Bollinger Band. However, the overall structure remains bullish, with expanding volume and improving technical patterns favoring an upward breakout.
Institutional Adoption Beyond HBAR
Canary Capital’s ambitions extend beyond Hedera. The firm has also filed for XRP and Solana spot ETFs, reflecting confidence in broader institutional adoption of digital assets. Recent weeks have seen increased institutional interest in Litecoin and XRP markets after the SEC acknowledged applications from Grayscale and Bitwise.
This trend underscores a shifting landscape where traditional finance embraces diverse crypto assets. HBAR’s inclusion in this wave highlights its unique value proposition for enterprises seeking efficient, scalable blockchain solutions.
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Frequently Asked Questions
What is an ETF, and why does it matter for HBAR?
An Exchange-Traded Fund (ETF) allows investors to gain exposure to an asset like HBAR without directly holding it. Approval could attract institutional capital, increasing liquidity and price stability for Hedera.
How does Nasdaq’s filing affect HBAR’s price?
Nasdaq’s submission signals credibility and potential market demand. Short-term price surges often follow such announcements, but sustained gains depend on regulatory approval and broader market conditions.
What are the key resistance levels for HBAR?
Immediate resistance lies at $0.2419 (upper Bollinger Band). A breakout above this level could target $0.25. Support is near $0.2059, coinciding with the lower Bollinger Band.
When will the SEC decide on the HBAR ETF?
The review process for S-1 and 19b-4 filings typically takes months. Canary’s application, submitted in November 2024, is still under review, with no definitive timeline for a decision.
How does HBAR compare to other ETFs like Bitcoin or Litecoin?
HBAR’s ETF would focus on its native token, emphasizing enterprise use cases. While Bitcoin ETFs target store-of-value demand, HBAR’s appeal lies in its utility for decentralized applications and governance.
What risks should investors consider?
Regulatory uncertainty remains the primary risk. Rejection or delays in ETF approval could lead to price volatility. Additionally, broader market trends and crypto-specific events may impact HBAR’s trajectory.