The U.S. Securities and Exchange Commission (SEC) extended the comment period on the Hedera (HBAR)-based exchange-traded fund (ETF) application submitted by Canary Capital. According to an official announcement dated June 11, 2025, the SEC extended the comment period to receive additional public comment and to review all aspects of the proposal. The decision was made by setting a new evaluation schedule in the approval process of the application.
Update from the SEC for Hedera
The US Securities and Exchange Commission (SEC) delayed the decision on the Hedera (HBAR)-based exchange-traded fund (ETF) application submitted by Canary Capital. SEC Chairman Paul Atkins, while confirming the extension of the application's evaluation process, stated that this process was taken to allow more time for public comment and to ensure that all aspects of the proposed changes could be addressed. “The Commission has determined that an extension is appropriate to allow for adequate consideration before taking action on the proposed rule change,” Atkins said.
Canary Capital is one of several institutions that have applied for SEC approval in the ETF space in recent months. Approval of a Hedera-based ETF could make the network more accessible to institutional investors. However, the SEC's stance affects not only Hedera but also ETF applications based on other major cryptocurrencies such as Polkadot. There has been no official statement from Canary Capital so far. However, the general atmosphere in the market shows that a “wait-and-see” strategy is being adopted as the process is prolonged. The uncertainty regarding crypto ETFs is also causing a cautious approach among investors. So far, only Bitcoin and Ethereum ETFs have received approval and are trading.
Many altcoins await ETF approval
According to Bloomberg's ETF analyst Eric Balchunas, over 70 crypto-focused ETFs are awaiting approval from the SEC.
Latest situation in HBAR price
Hedera (HBAR) is trading at $0.18 as of the time of writing, according to CoinMarketCap data. With a market capitalization of $7.60 billion, the token's 24-hour trading volume is $135.97 million. HBAR's circulating supply is 42.24 billion tokens, while its maximum supply is limited to 50 billion. Although it has declined by 9.10% in the last 90 days, it is noteworthy that it has shown a recovery of 8.20% in recent days.
According to some, the SEC's delayed stance may reduce institutional investors' interest in crypto-based products. The lack of a clear legal basis for such products creates uncertainty, especially for large portfolio managers. Experts emphasize that the delay of the Hedera ETF could negatively affect the wider financial acceptance process.
