2024-11-13
On November 12, 2024, Canary Capital has filed an S-1
registration statement with the U.S. Securities and Exchange Commission (SEC)
for a spot exchange-traded fund (ETF) focused on Hedera's native token, HBAR.
This marks the first-ever application
for a spot HBAR ETF, aiming to provide investors with direct exposure to HBAR
without using derivatives or futures contracts.
The filing highlights that the ETF will
hold HBAR tokens directly, offering a purer play on Hedera's value. However,
key details like the fund's custodian and administrator are yet to be named.
www.sec.gov/Archives/edgar/data/2039458/000199937124014510/hbar_s1-111224.htm
Hedera Hashgraph (HBAR) is a public
distributed ledger that uses a unique consensus mechanism known as the
Hashgraph consensus algorithm. Unlike traditional blockchain technologies, such
as Bitcoin or Ethereum, Hedera Hashgraph employs a directed acyclic graph (DAG)
structure for its data processing.
This allows it to achieve high
throughput, low latency, and fairness in transaction ordering.
HBAR is used as both a utility token
and a means to incentivize and secure the network.
Network Fees: HBAR pays for
transactions and smart contract execution on the Hedera network.
Staking and Security: HBAR holders
can stake tokens to help secure the network.
Micropayments: Due to its low
fees and high speed, HBAR is ideal for microtransactions.
HBAR Supply: The total
supply of HBAR is fixed at 50 billion tokens, ensuring scarcity over time.
