SEC Delays Approval for HBAR ETF Application, Raising Uncertainty in Hedera Ecosystem

The U.S. Securities and Exchange Commission (SEC) has recently delayed its decision regarding a spot HBAR exchange-traded fund (ETF) application submitted by Canary Capital. This development, while not unexpected given the SEC’s historically cautious approach to cryptocurrencies, brings renewed uncertainty for investors and proponents of the Hedera network. The delay stems from the SEC’s need to thoroughly assess the proposed ETF, considering market size and liquidity, potential for manipulation, and security measures surrounding custody and surveillance.