Canary HBAR ETF and Litecoin ETFs Gain Momentum Amid SEC Review
Canary has officially submitted the 19b-4 filing for its HBAR ETF, marking a major step toward regulatory approval. This follows an amendment to its S-1 registration statement last week, signaling active discussions with the U.S. Securities and Exchange Commission (SEC). Analysts suggest this positions HBAR and Litecoin ETFs favorably among the growing pool of altcoin8 ETF applications.
Understanding the 19b-4 Filing
A 19b-4 filing is a formal request from an exchange to adjust its rules—such as listing and trading a new ETF. While not an outright approval, it initiates the SEC’s review process within a set timeframe, determining whether the proposal moves forward.
By proceeding with the HBAR ETF, Canary reflects the increasing demand for crypto-based investment products. If approved, this ETF would provide institutional and retail investors exposure to HBAR without the need to directly hold digital assets.
Why HBAR and Litecoin ETFs Have an Advantage
Industry experts, including Eric Balchunas, believe the SEC’s engagement with Canary signals a higher likelihood of approval for HBAR and Litecoin ETFs. Since the SEC has already reviewed the S-1 amendment, it suggests a serious consideration of the proposal.
Moreover, recent approvals of Bitcoin spot ETFs indicate a shift in regulatory sentiment, potentially paving the way for altcoin ETFs beyond Bitcoin and Ethereum.
Potential Impact on the Crypto Market
If the HBAR ETF secures approval, it could trigger:
- Greater institutional adoption – More investors entering the market, driving demand for HBAR.
- Positive price movement – Similar to Bitcoin ETFs, an approval could boost HBAR’s valuation.
- Momentum for other altcoin ETFs – A successful listing could open doors for additional altcoin ETFs.
SEC’s Expanding Crypto ETF Review
The SEC has been actively reviewing various crypto ETF applications, including:
- Grayscale’s Cardano ETF
- Cboe’s XRP ETF
- Grayscale’s Spot XRP and Dogecoin ETFs
On February 24, 2025, the SEC acknowledged NYSE Arca’s proposal to list and trade Grayscale’s Cardano Trust as a spot Cardano ETF. This marks the initial phase in the regulatory process, setting the timeline for an official decision.
As the SEC continues evaluating these filings, the crypto market watches closely for potential breakthroughs in ETF approvals.
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