Key Points
- Canary Capital has launched the first HBAR Trust in the U.S., broadening digital currency options for institutional investors.
- The trust provides exposure to Hedera’s (HBAR) native crypto and is intended for accredited investors interested in advanced crypto investment strategies.
Canary Capital has announced the launch of the first HBAR Trust in the United States.
This development allows institutional investors to access Hedera’s (HBAR), the native cryptocurrency of the Hedera network.
The trust is designed for accredited investors who are looking to implement advanced digital currency investment strategies.
HBAR Investment Opportunities
The Hedera network employs distributed ledger technology for various enterprise applications, including asset tokenization, non-fungible token issuance, and Web3 application development.
The trust presents a structured means for U.S. investors to invest in HBAR.
Steven McClurg, the former co-founder of Valkyrie and founder of Canary Capital, highlighted the increasing demand for digital currency investment options beyond well-known assets such as Bitcoin (BTC).
He pointed out that despite the interest, many institutional investors lack dependable options to invest in more innovative digital currency projects.
The Canary HBAR Trust fills this void, potentially setting the stage for future digital currency-focused investment funds like ETFs.
The trust is open to accredited individual and institutional investors, representing an opportunity for those looking to diversify their digital currency portfolios.
In addition to the HBAR Trust, Canary Capital provides other digital currency hedge fund solutions, targeting sophisticated and institutional investors seeking a combination of digital currency and fixed-income strategies.
Hedera’s Role in MiCA Crypto Alliance
On September 16, Hedera played a part in the launch of the MiCA Crypto Alliance, along with Ripple and the Aptos Foundation as founding members.
The alliance aims to assist digital currency firms in navigating EU regulations, specifically the Markets in Crypto Assets regulation.
The alliance’s focus is on enhancing transparency and promoting blockchain innovation.
