Hedera Hashgraph returned to the spotlight after the launch of the first HBAR ETF on Nasdaq by asset manager Canary Capital Group. Named HBR (NASDAQ:HBR), the fund recorded inflows of approximately US$8 million on its first day of trading.
The ETF offers direct exposure to the HBAR token (COIN:HBARUSD), the native asset of the Hedera network, which seeks to expand the use of blockchain technology in payments and tokenization.
According to analysts, including Eric Balchunas, the initial performance of the HBR was a moment of transition, in which investors seek funds backed by technological utility assets. The significant volume in the first hours of trading demonstrated the appetite for products that bring blockchain and financial market infrastructure closer together.
Despite the initial euphoria, HBAR faced volatility after its launch. The token fell approximately 4.5% in the following 24 hours, a movement attributed to profit-taking. Even so, experts consider the correction healthy given the increased liquidity and institutional attention.
The value of HBAR fluctuated around US$0.19, while its market capitalization reached US$8.2 billion. Trading volume above US$690 million signaled intense speculative activity and short-term positioning, typical of crypto ETF debuts.
Experts have pointed out that the launch of the HBR ETF could trigger a broader price cycle. As short positions are liquidated, HBR could benefit from a “second wave effect,” driven by increased confidence in regulated crypto products. Worth watching.