Financial Insights That Matter
You’ve probably heard some buzz about the potential of a Hedera ETF. The SEC recently acknowledged two proposals — one from Grayscale and one from Canary Capital — to list spot ETFs tied to Hedera Hashgraph (HBAR). If this goes through, it might open the door for regular folks (as well as big players) to get into HBAR without touching a crypto wallet. Here’s what to know.
KEY TAKEAWAYS
➤ A Hedera ETF would let you invest in HBAR, wallet-free.
➤ Approval could arrive by May 2025, if cleared.
➤ The application signals growing demand for regulated altcoin exposure.
What is a Hedera ETF?
A Hedera ETF is a proposed investment product that would let you buy into HBAR, the native token of Hedera Hashgraph, using your regular stock trading apps — no wallets or seed phrases needed.
Now, here’s where it gets interesting. Asset management and investment fund giants Grayscale and Canary Capital have filed to make it happen.
Grayscale submitted its proposal in early March 2025. Canary was even earlier, back in February. These aren’t just casual filings either. They are part of the official SEC process, with public comment windows and a review timeline that can last up to 240 days.
The excitement around a Hedera ETF isn’t just because it’s another crypto product gaining TradFi-level legitimacy. Part of the optimism comes from the fact that HBAR has never been caught up in the whole “Is this a security?” mess (unlike XRP, for example). That makes it a cleaner play, especially for institutions that have been waiting for something beyond Bitcoin or Ethereum.
This ETF could give HBAR the same kind of exposure that Bitcoin got when its spot ETFs went live. However, excited HBAR holders shouldn’t necessarily get their hopes up in terms of price implications. While the Bitcoin ETFs effectively provoked the bull run in 2024, by the time Ethereum ETFs rolled around, the impact on ETH’s price was much less pronounced.
How would the ETF work?
You buy shares of the ETF, and those shares represent actual HBAR tokens held by the fund. Instead of tracking futures or synthetic contracts, the ETF would be backed by real HBAR, sitting in cold storage.
You don’t need to mess with exchanges or wallets. Just log into your brokerage app and buy it like you would with any TradFi stock. This makes the ETF way more accessible for anyone who wants exposure to HBAR.
Behind the scenes, it’s simple: the fund managers (like Grayscale or Canary Capital) buy and hold HBAR, like any other crypto ETF. You buy the ETF, and your investment moves with HBAR’s price. It’s clean, it’s regulated (if approved), and it saves you the headache of managing crypto directly.
When is the ETF expected to launch?
So, when might a Hedera ETF hit the market? As of now, it’s not trading yet, but things are moving along.
Canary Capital filed its 19b-4 form for the HBAR ETF back in February 2025. If everything goes smoothly, we might see a decision by late April or early May.
Grayscale submitted its own application in March 2025. Given the timelines, a decision on this one could come by mid-May.
Analysts are optimistic. Some expect approvals by May 15, 2025, with trading possibly starting on Nasdaq around a week later.
Did you know? Canary Capital, one of the firms behind the proposed Hedera ETF, has been quietly building a whole suite of altcoin-based ETFs, including a Staked SEI ETF registered in Delaware. They’re also exploring ETFs for XRP, Solana, and even Pudgy Penguins. It looks like rather than just betting on HBAR, they’re going all in on the next wave of crypto ETFs.
Why the Hedera ETF matters in 2025
A Hedera ETF could make investing in HBAR as straightforward as readily purchasing any stock. This simplicity could attract a broader range of investors, from individuals to institutions.
A Hedera ETF would also align with the growing trend of tokenizing real-world assets. Hedera Hashgraph is already being used to tokenize assets like money market funds and diamonds, making them more accessible and tradable.
In short, the Hedera ETF isn’t just about adding another investment option; it’s about making HBAR more accessible, legitimizing it in traditional finance, and aligning with the future of asset tokenization.
Impact on HBAR’s market performance
As of April 24, 2025, HBAR is trading around $0.18. Analysts suggest that if the Hedera ETF gets the green light, we could see a short-term surge, possibly pushing HBAR up to $0.60 within a couple of weeks.

In the midterm, say a few months after approval, projections indicate HBAR could climb to $0.75, especially if institutional interest picks up.
However, these price levels are speculative and dependent on market conditions. As mentioned previously, the creation of Ethereum ETFs was not a game changer for the price of ETH.
Is the Hedera narrative the turning point for crypto ETFs?
The Hedera ETF could be your easiest entry point into HBAR without touching a crypto wallet. Yet, as explained in this guide, it’s not just about convenience. It’s about signaling that crypto ETFs are moving beyond Bitcoin and Ethereum. Whether this opens the door to more regulated digital asset exposure or if it’s just — potentially — Hedera’s moment remains to be seen.
Disclaimer: This article is for informational purposes only and should not be considered investment advice. Always do your own research (DYOR).
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