Canary Capital has launched the first HBAR Trust in the US, expanding cryptocurrency options for institutional investors.
The move gives institutional investors access to Hedera’s (HBAR), the native cryptocurrency of the Hedera network. The trust caters to the needs of accredited investors seeking exposure to advanced crypto investment strategies.
According to the company advertisementThis is the first dedicated HBAR organization in the United States.
HBAR Investment Options
Hedera Network is a distributed ledger technology used by organizations for various applications, such as asset tokenization, non-fungible token issuance, and Web3 application development. This trust gives US investors a regulated way to invest in HBAR.
Stephen McClurg, former co-founder of Valkyrie and founder of Canary Capital, emphasized the growing demand for cryptocurrency investment options beyond popular assets like Bitcoin (BTC). He noted that despite the interest, many institutional investors lack reliable options to invest in the most innovative cryptocurrency projects.
“Demand for crypto offerings appears to be accelerating since the launch of Spot Bitcoin ETFs this year, however there remains a gap in terms of companies with institutional expertise that are willing to continue innovating and providing solutions beyond retail products.”
Stephen McClurg
The Canary HBAR Trust addresses this gap, paving the way for future cryptocurrency-focused investment funds such as ETFs. The trust is available to accredited individual and institutional investors, representing an opportunity for those looking to diversify their cryptocurrency portfolios.
In addition, Canary Capital offers other cryptocurrency hedge fund solutions, targeting sophisticated and institutional investors looking for a mix of crypto and fixed income strategies.
On September 16, Hedera helped launch the MiCA Crypto Alliance with Ripple and the Aptos Foundation as founding members, with the aim of helping cryptocurrency companies navigate EU regulations, especially regulating markets in crypto assets. The alliance focuses on improving transparency and promoting blockchain innovations.