What You Need to Know
- HBAR ETF Buzz: Grayscale has outlined plans for a Hedera trust while the DTCC has filed a Canary HBAR ETF under the ticker HBR.
- Institutional Flows: Gains are capped at $0.245; however, $0.240 remains a crucial support level amid robust trading activity.
- Regulatory Roadblocks: Analysts highlight that the DTCC listings are only preliminary. SEC approval is necessary before any ETF launch.
Hedera’s token, HBAR, saw a slight increase during the trading period from September 11 to 12, climbing from $0.237 to $0.245 before closing at $0.240. This growth indicates rising institutional involvement, closely tied to new developments regarding potential exchange-traded products.
The corporate momentum gained traction following Grayscale Investments’ announcement about a potential HBAR trust and the DTCC’s addition of a Canary HBAR ETF filing. The latter lists under the proposed ticker HBR, paralleling similar submissions for Solana and XRP, which indicates an expanding appetite on Wall Street for digital assets beyond Bitcoin.
Traders reacted positively to this news. The technical resistance at $0.245 triggered some profit-taking; however, $0.240 was established as a key support level due to late-session volume spikes that surpassed 17 million tokens. Analysts speculate that if this momentum continues, it could lead to a test of the psychological $0.25 barrier.
Despite this positive outlook, industry analysts advise caution, noting that DTCC inclusions are preliminary steps and do not indicate SEC approval. Regulatory bodies continue to address concerns related to market manipulation and investor protection for non-Bitcoin cryptocurrencies, leaving the timeline for an HBAR-based ETF uncertain. Thus far, these filings have elevated Hedera’s visibility on Wall Street, drawing institutional interest even amid regulatory uncertainties.
