Canary Capital Confirms HBAR Spot ETF Fee as Approval Odds Hit 90%

Key Notes

• Canary Capital’s HBAR ETF carries a 1.95% management fee, significantly higher than its 0.95% Litecoin ETF offering.
• HBAR trading volume jumped 152% to $438 million despite a 7% price drop to $0.22 on filing day.
• Bloomberg analysts maintain 90% approval odds for altcoin spot ETFs following regulatory stance improvements this year.

Asset manager Canary Capital filed an amendment to its S-1 registration for the Canary Spot ETF on Monday, Sept. 22,  formalizing the fee structure for its proposed product.

According to the latest SEC filing, Canary Capital is set to charge investors in its HBAR ETF a 1.95% management fee, placing it among the most expensive crypto-based exchange-traded funds on the market.

Canary Capital Spot ETF Filing Amendment, Sept. 22, 2025 | Source: SEC.Gov

The fee highlights the growing costs for investors seeking diversified access to altcoin markets. For comparison, Canary’s spot Litecoin ETF filing disclosed fees of just 0.95%, while management costs for actively-traded Bitcoin and Ethereum ETFs have historically ranged between 0.2% and 2%.

By targeting the higher-end pricing, Canary appears confident in the projected demand for the regulated Hedera

HBAR
$0.22



24h volatility:
7.1%


Market cap:
$9.26 B



Vol. 24h:
$351.88 M

derivative product.

HBAR is the native asset of the Hedera network, a layer-1 network widely used for building decentralized applications and enterprise-focused blockchain solutions. Canary Capital’s HBAR ETF would directly track HBAR’s market price, giving investors access without the operational risks of holding and storing the token.

HBAR Amendment Enhances Altcoin ETF Approval Odds

Despite the progress in filings, HBAR’s near-term market performance reflected broader market weakness.

At press time Monday, HBAR traded at $0.22, down 7% on the day. The decline mirrored sharp losses in other major cryptocurrencies, with Bitcoin and Ethereum also retreating under bearish pressure.

Hedera (HBAR) trading volume rises 152% as prices dipped 7% to $0.21 on Sept. 22, 2025 | Coinmarketcap

Yet, Coinmarketcap data shows Hedera’s 24-hour trading volume climbed 152% to $438 million despite the price decline, suggesting sustained investor interest amid the ETF filing developments.

This resilience reflects the anchoring effect of growing ETF approval expectations, which have increasingly formed a buffer for top altcoins with ETF filings currently under the SEC’s review, including XRP, Solana, Avalanche, and HBAR.

Notably, Bloomberg analysts Eric Balchunas and James Seyffart reiterated in June that the probability of approval for altcoin spot ETFs stands at 90%, citing positive shifts in US regulatory stance over the past year since the previous Gary Gensler-led SEC regime exited.

NEW: @EricBalchunas & I are raising our odds for the vast majority of the spot crypto ETF filings to 90% or higher. Engagement from the SEC is a very positive sign in our opinion pic.twitter.com/5dh8G8rK6Y

— James Seyffart (@JSeyff) June 20, 2025

For HBAR investors, the latest amendment could be interpreted as edging closer to approval requirements. The 1.95% fee offer also poses a market challenge.

However, HBAR’s short-term price rebound prospects from the $0.21 support still hinge heavily on macro market sentiment, as negative headwinds saw all of the top 5 ranked cryptocurrencies, including Bitcoin

BTC
$112 612



24h volatility:
2.5%


Market cap:
$2.24 T



Vol. 24h:
$66.92 B

, Ethereum

ETH
$4 174



24h volatility:
6.9%


Market cap:
$503.78 B



Vol. 24h:
$51.54 B

and Solana

SOL
$218.8



24h volatility:
8.0%


Market cap:
$118.83 B



Vol. 24h:
$12.11 B

, trading in the red at press time.

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Disclaimer: Coinspeaker is committed to providing unbiased and transparent reporting. This article aims to deliver accurate and timely information but should not be taken as financial or investment advice. Since market conditions can change rapidly, we encourage you to verify information on your own and consult with a professional before making any decisions based on this content.

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Ibrahim Ajibade is a seasoned research analyst with a background in supporting various Web3 startups and financial organizations. He earned his undergraduate degree in Economics and is currently studying for a Master’s in Blockchain and Distributed Ledger Technologies at the University of Malta.

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