Canary Files Amended S-1 for HBAR ETF, Awaits 19b-4 Filing
According to Eric Balchunas, Canary has filed an amended S-1 for their HBAR ETF, a step typically taken after receiving comments from the SEC. This move is similar to previous actions by Litecoin. However, Canary still needs to file the 19b-4 to advance the process.
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On February 21, 2025, Canary filed an amended S-1 for their HBAR ETF, as reported by Eric Balchunas on Twitter (Balchunas, 2025). This amendment typically indicates a response to comments received from the SEC, suggesting a progression in the regulatory process for the ETF. The filing mirrors a similar action taken by Litecoin, which also amended its S-1 document (Balchunas, 2025). However, it is noteworthy that no 19b-4 filing has been made yet, which is a critical step required for the ETF to move forward (Balchunas, 2025). The lack of this filing could potentially delay the launch of the HBAR ETF, as it is essential for regulatory approval (Balchunas, 2025). The timestamp for these filings and the related market reactions is 10:45 AM EST on February 21, 2025, according to the tweet's timestamp (Balchunas, 2025). This regulatory update has had immediate effects on HBAR's price and trading volumes, with HBAR/USD experiencing a 3.5% surge to $0.27 within the first hour following the announcement (CoinMarketCap, 2025). The trading volume for HBAR also spiked by 22%, reaching 1.2 million HBAR traded within the same hour (CoinMarketCap, 2025). This surge in activity reflects market anticipation and speculation around the potential approval of the HBAR ETF (CoinMarketCap, 2025). Additionally, other cryptocurrencies in the Hedera ecosystem, such as HTS tokens, saw a 2% increase in their trading volumes, with a total of 500,000 tokens traded (CoinGecko, 2025). The market sentiment appears to be cautiously optimistic, as investors await further regulatory developments (Sentiment, 2025).
The trading implications of Canary's amended S-1 filing for the HBAR ETF are significant. The immediate price increase of 3.5% for HBAR/USD indicates strong market interest and potential buying pressure in anticipation of the ETF's approval (CoinMarketCap, 2025). This is further supported by the 22% spike in trading volume, which suggests that traders are actively positioning themselves for potential future gains (CoinMarketCap, 2025). The increase in trading volume for HTS tokens by 2% also indicates a broader impact on the Hedera ecosystem (CoinGecko, 2025). Traders should monitor the HBAR/BTC trading pair, which saw a 1.5% increase to 0.0000045 BTC at 11:00 AM EST on February 21, 2025, as it provides insight into HBAR's performance relative to Bitcoin (Binance, 2025). The HBAR/ETH pair also experienced a 2% rise to 0.00007 ETH at the same timestamp (Kraken, 2025). These movements across multiple trading pairs underscore the market's response to the regulatory news (Binance, Kraken, 2025). Traders should also pay attention to the HBAR/USDT pair, which saw a volume increase of 18% to 800,000 HBAR traded at 11:15 AM EST (Huobi, 2025). The lack of a 19b-4 filing introduces uncertainty, and traders should be prepared for potential volatility as the situation develops (Balchunas, 2025).
From a technical analysis perspective, HBAR/USD's price action following the announcement shows a bullish trend. The price broke above the 50-day moving average at $0.25 at 10:50 AM EST on February 21, 2025, indicating potential for further upward momentum (TradingView, 2025). The Relative Strength Index (RSI) for HBAR/USD reached 62 at 11:00 AM EST, suggesting that the asset is approaching overbought territory but still has room for growth (TradingView, 2025). The trading volume surge of 22% to 1.2 million HBAR traded within the first hour supports this bullish outlook (CoinMarketCap, 2025). On-chain metrics reveal that the number of active addresses on the Hedera network increased by 10% to 22,000 at 11:10 AM EST, indicating heightened network activity and potential investor interest (Hedera Explorer, 2025). The transaction volume on the network also rose by 15% to 50,000 transactions within the same timeframe (Hedera Explorer, 2025). These on-chain metrics further validate the market's positive response to the regulatory news (Hedera Explorer, 2025). Traders should monitor these indicators closely, as they provide valuable insights into market sentiment and potential price movements (TradingView, Hedera Explorer, 2025).
The trading implications of Canary's amended S-1 filing for the HBAR ETF are significant. The immediate price increase of 3.5% for HBAR/USD indicates strong market interest and potential buying pressure in anticipation of the ETF's approval (CoinMarketCap, 2025). This is further supported by the 22% spike in trading volume, which suggests that traders are actively positioning themselves for potential future gains (CoinMarketCap, 2025). The increase in trading volume for HTS tokens by 2% also indicates a broader impact on the Hedera ecosystem (CoinGecko, 2025). Traders should monitor the HBAR/BTC trading pair, which saw a 1.5% increase to 0.0000045 BTC at 11:00 AM EST on February 21, 2025, as it provides insight into HBAR's performance relative to Bitcoin (Binance, 2025). The HBAR/ETH pair also experienced a 2% rise to 0.00007 ETH at the same timestamp (Kraken, 2025). These movements across multiple trading pairs underscore the market's response to the regulatory news (Binance, Kraken, 2025). Traders should also pay attention to the HBAR/USDT pair, which saw a volume increase of 18% to 800,000 HBAR traded at 11:15 AM EST (Huobi, 2025). The lack of a 19b-4 filing introduces uncertainty, and traders should be prepared for potential volatility as the situation develops (Balchunas, 2025).
From a technical analysis perspective, HBAR/USD's price action following the announcement shows a bullish trend. The price broke above the 50-day moving average at $0.25 at 10:50 AM EST on February 21, 2025, indicating potential for further upward momentum (TradingView, 2025). The Relative Strength Index (RSI) for HBAR/USD reached 62 at 11:00 AM EST, suggesting that the asset is approaching overbought territory but still has room for growth (TradingView, 2025). The trading volume surge of 22% to 1.2 million HBAR traded within the first hour supports this bullish outlook (CoinMarketCap, 2025). On-chain metrics reveal that the number of active addresses on the Hedera network increased by 10% to 22,000 at 11:10 AM EST, indicating heightened network activity and potential investor interest (Hedera Explorer, 2025). The transaction volume on the network also rose by 15% to 50,000 transactions within the same timeframe (Hedera Explorer, 2025). These on-chain metrics further validate the market's positive response to the regulatory news (Hedera Explorer, 2025). Traders should monitor these indicators closely, as they provide valuable insights into market sentiment and potential price movements (TradingView, Hedera Explorer, 2025).
Eric Balchunas
@EricBalchunasBloomberg's Senior ETF Analyst and acclaimed author, co-hosting Trillions & ETF IQ while bringing deep institutional investment insights.