Canary Capital launches first U.S. HBAR Trust for institutional investors

Canary Capital has launched the first HBAR Trust in the U.S., enhancing cryptocurrency investment options for institutional investors.

This trust provides accredited investors access to Hedera’s HBAR, the native cryptocurrency of the Hedera network, catering to those seeking advanced crypto investment strategies. According to the company’s announcement, it marks the first dedicated HBAR trust in the United States.

HBAR Investment Opportunities

The Hedera network utilizes distributed ledger technology for various applications, including asset tokenization, NFT issuance, and Web3 development. The trust offers U.S. investors a structured means to invest in HBAR.

Steven McClurg, co-founder of Valkyrie and founder of Canary Capital, highlighted the rising demand for crypto investment options beyond traditional assets like Bitcoin. He pointed out that many institutional investors still lack reliable avenues for engaging with more innovative crypto projects.

“The demand for crypto offerings has accelerated exponentially since the launch of Spot Bitcoin ETFs this year. However, there’s a gap in firms with institutional experience that are willing to innovate and provide solutions beyond retail products,” McClurg stated.

The Canary HBAR Trust aims to fill this gap and may pave the way for future crypto-focused investment funds, such as ETFs. It is available to accredited individual and institutional investors, providing an opportunity to diversify crypto portfolios.

In addition to the HBAR Trust, Canary Capital also offers various crypto hedge fund solutions tailored for sophisticated investors looking to combine crypto investments with fixed-income strategies.

On September 16, Hedera partnered with Ripple and the Aptos Foundation to launch the MiCA Crypto Alliance, aimed at helping crypto firms navigate EU regulations, particularly the Markets in Crypto Assets regulation, while promoting transparency and blockchain innovation.