Canary Capital, the digital asset management company behind one of the two Hedera Hashgraph (HBAR) exchange-traded fund (ETF) submissions, just took a major step towards winning the altcoin ETF race. As spotted by Bloomberg’s Head ETF analyst Eric Balchunas, Canary Capital filed an S-1 amendment for HBAR & LTC ETFs, including new details.
Canary Unfolds Key ETF Details In S-1 Amendment
HBAR will go by the ticker symbol HBR, while Canary Capital’s Litecoin ETF pitch gets the LTCC ticker. Moreover ,the trust will be paying the sponsors of these ETF items an annual unified fee of 0.95%. According to Mr. Balchunas, this is definitely on the expensive side, compared to Bitcoin’s (BTC) Spot price-tracking ETFs.
However, this is typical for “increasingly niche” ETF products, but the Bloomberg ETF expert sees the fees getting cracked down if other issuers decide to step in the competition. Amidst the bullish news, Hedera’s native crypto HBAR picked up 3.6% gains to establish a double top at $0.231, but the rebound got fully retraced later in the day.
Certainly, adding the S-1 amendment puts Canary Capital’s HBAR ETF pitch among the top candidates for a late 2025 approval. The sentiment is shared by both Bloomberg and market participants on PolyMarket, with the odds of approval ranging from 95% to 98%. However, the shutdown of the United States government is casting a shadow of doubt over these key dates.
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The Canary HBAR ETF is a proposed spot exchange-traded fund tracking Hedera’s HBAR token, aiming to give investors easy exposure to this altcoin via traditional markets. Filed in February 2025, it’s the first U.S. HBAR ETF.
On October 7, 2025, Canary filed S-1 amendments disclosing the ticker “HBR” and a 0.95% management fee—key final details signaling the product is nearly ready for launch.
It’s called the “last step before go-time” by Bloomberg analysts, boosting approval odds to 95% despite the U.S. government shutdown delaying SEC reviews.
The SEC missed the initial October 2 deadline due to the shutdown; next review is November 8, 2025. Approval could follow soon after, paving the way for altcoin ETF expansion.
If approved, it could drive institutional inflows, potentially surging HBAR’s price (currently ~$0.21) and marking a milestone for crypto beyond BTC and ETH.
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