Hedera’s price jumped almost 5% today, with trading 158% higher than normal. This upward movement follows the news of a spot HBAR ETF filing with Nasdaq. The application, filed by Canary, aims to list and trade shares of an HBAR-backed exchange-traded fund (ETF). The development has sparked investor optimism, contributing to the price increase.
The announcement was highlighted on X (formerly Twitter) by Ash Crypto, stating that Canary had submitted a proposal for the first-ever Spot HBAR ETF. The news has drawn attention from traders and investors, fueling speculation about the token’s future performance.
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Canary Files for Spot HBAR ETF with Nasdaq
A document shows Canary has asked the SEC for permission to create an HBAR ETF. This would let people invest in HBAR through regular markets with proper oversight.
If approved, this would be the first Spot HBAR ETF, marking a milestone for the token. The filing has created speculation about increased institutional involvement in Hedera’s ecosystem. While the SEC has yet to decide on the application, market participants are reacting positively to the development.
HBAR’s Price Movement and Market Response
After this ETF news broke, Hedera’s price broke out of a triangle pattern where it had been stuck. Breaking through this resistance suggests prices might keep rising.
The technical signs back this up too. HBAR is now trading above its 9-period EMA, and the RSI at 57.48 shows more buyers than sellers in the market.
Moreover, if this upward move continues, we could see prices reach between $0.24 and $0.26. But if it can’t hold these gains, it might fall back to around $0.205. Trading volume will be important to watch – high volume would confirm the uptrend is real.
Investors are now keeping an eye on both what regulators decide and how the price moves next. Whether the SEC approves the application remains uncertain, but the immediate market response indicates a growing interest in HBAR’s price as a tradable asset.
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