- Hedera’s (HBAR) price climbed sharply on November 12, reaching highs near $0.07 — the highest level since July
Hedera’s native token, HBAR, surged more than 20% over 24 hours to reach roughly $0.07, marking its strongest price since July. The move positioned HBAR among the top short-term gainers in the crypto market.
Market momentum for HBAR accelerated after holders reacted positively to recent developments surrounding the project.
The immediate catalyst was Canary Capital Group’s filing to list an exchange-traded fund (ETF) for HBAR, a step that boosted investor interest and contributed to the price rally.
Canary files for HBAR ETF
Canary Capital’s proposal to list and trade shares of a Canary HBAR ETF arrives as broader enthusiasm returns to the crypto sector.
Following the U.S. Securities and Exchange Commission’s approval of spot Bitcoin and Ethereum ETFs, institutional demand has grown, and market participants expect additional crypto assets might follow a similar path toward ETF listings.
Canary Capital is among several issuers preparing to capture this potential inflow of institutional capital. Recent months have seen filings and interest around spot ETFs for assets like Solana, Litecoin, and XRP, and the addition of Hedera to that list has energized the HBAR community.
The ETF filing for HBAR follows Canary’s recent launch of an HBAR Trust, signaling the firm’s continued focus on making HBAR more accessible to traditional investors.
Political developments have also influenced sentiment. Donald Trump’s victory in the U.S. election and his campaign’s pro-crypto positions have contributed to a more optimistic outlook across the industry.
Market participants are speculating that a friendlier regulatory environment under the incoming administration could increase the likelihood of approvals for a broader range of crypto investment products. Some observers note that the prospects for ETFs tied to SOL, LTC, XRP, or HBAR may improve if current SEC Chair Gary Gensler departs the agency.
Trump has indicated he would replace the SEC chair after taking office in January 2025, a prospect that has further shaped expectations around regulatory change and potential growth in crypto investment vehicles.