A potential approval of an HBAR (Hedera Hashgraph) exchange-traded fund (ETF) is generating significant market buzz, with analysts predicting a potential price surge of up to 123%. This optimistic outlook stems from high probability of approval (90%), fueled by major institutional backing and anticipation for regulatory decisions. The ETF’s approval could significantly boost HBAR’s valuation and attract substantial investments, mirroring the trends observed in Bitcoin and Ethereum ETFs. This potential development is particularly significant given that key players like Google, IBM, and Boeing have publicly expressed support for Hedera’s growth plans. These endorsements further reinforce institutional confidence in the network’s long-term prospects. The Hedera Hashgraph Governing Council, composed of global enterprises, oversees the protocol. The pending application by Canary Capital Group with BitGo and Coinbase Custody as custodians suggests a potential shift in market dynamics. Analysts highlight the importance of such developments for supported assets, suggesting a potential market rotation based on established trends from previous ETF launches. For example, historical data shows capital inflows following the launch of Bitcoin and Ethereum ETFs. A successful HBAR ETF approval is expected to bring substantial financial changes. The price of HBAR surged over 3.5% after rumors of ETF approval, further indicating a possible shift in market dynamics. Google and IBM’s ongoing projects are pushing DeFi and payment use cases on the network. Increased interest in the stablecoin market has also been observed. Experts highlight the significance of institutional developments for supported assets, signaling potential market shifts similar to historical trends seen with Bitcoin and Ethereum ETFs. James Seyffart, Bloomberg ETF Analyst, noted the increasing probability of an HBAR ETF approval at 90%, driven by strong institutional interest in the asset. Disclaimer: The content on The CCPress is provided for informational purposes only and should not be considered financial or investment advice. Cryptocurrency investments carry inherent risks. Please consult a qualified financial advisor before making any investment decisions.