Hedera skyrockets like the canary files for the HBAR ETF

Hedera (HBAR) price rose sharply on November 12 to reach a high of nearly $0.07 – the highest level since July.

The Hedera token has risen over 20% in the last 24 hours to $0.07. This cryptocurrency reached its highest price level since July and stood out among the top earners.

The gains for HBAR came as cryptocurrency holders responded positively to the latest Hedera news.

In particular, the altcoin was booming after Canary Capital Group filed for listing on the HBAR exchange-traded fund.

Canary files for HBAR ETF

The proposal to list and trade Canary HBAR ETF shares comes amid growing excitement in the crypto market. As SEC-approved space Bitcoin and Ethereum ETFs have generated significant interest and demand from institutional investors, it is expected that more crypto assets may be set in the same direction.

Canary Capital is one of the issuers targeting this potential investment fund. While the market has seen filings of spot ETFs for Solana, Litecoin and XRP in recent months, the addition of Hedera to the list has excited the HBAR community.

The HBAR ETF filing comes just weeks after Canary launched the HBAR Trust.

Donald Trump's historic victory in the US election and his pro-crypto stance on the campaign trail have crypto highs.

As the industry contemplates the positive regulatory environment that the Trump administration will provide, the expectation is that approval for additional crypto investment vehicles is highly likely. Moreso, if current SEC Chairman Gary Gensler leaves the agency, the chances of a SOL, LTC, XRP or HBAR ETF being approved will increase significantly.

Trump has promised to fire the SEC chair when he takes office in January 2025.