Canary Capital’s Spot HBAR ETF Lands on Vanguard — Boost to Spot Demand, Mixed Derivatives Signals
Canary Capital’s spot Hedera ETF (ticker: HBAR) is now listed on Vanguard’s brokerage platform, offering ~50 million Vanguard clients regulated, custodial exposure to HBAR without crypto exchanges or self-custody. The Nasdaq‑listed fund holds physical HBAR with U.S. Bank as custodian and uses major HBAR venues for pricing. Since its early‑November SEC approval and listing, the ETF recorded roughly $82 million cumulative inflows and about $66.5 million net assets by Dec. 2. Vanguard’s rollout drove a spike in activity: HBAR token price rose ~9.1% intraday toward $0.145, the ETF unit climbed ~8.45%, and daily ETF flows added roughly 12.31 million HBAR (~$1.68M traded). The broader crypto market also rallied after the Fed ended quantitative tightening. However, HBAR futures open interest fell about 11% (from $131.9M to $116.5M), indicating reduced derivatives leverage despite rising spot demand. Technicals show a short‑term rebound from $0.1332 to $0.145 with a higher low and RSI in the mid‑40s, though price remains inside a longer‑term falling channel since July 2025; a sustained breakout above channel resistance (noted far above current levels) would confirm a stronger recovery. Key takeaways for traders: Vanguard listing expands the retail/institutional on‑ramp and may boost spot liquidity and demand, but watch ETF flows, spot volumes, on‑chain movements and futures open interest to distinguish transient listing-driven spikes from sustained accumulation. Primary keywords: HBAR, Hedera, spot ETF, Vanguard, ETF flows. Secondary/semantic keywords included naturally: Nasdaq listing, U.S. Bank custody, futures open interest, spot demand, trading volume.
Bullish
The Vanguard listing materially improves accessibility to HBAR for a large retail and institutional base, which increases potential spot demand and liquidity — a bullish structural catalyst for HBAR price. Historical precedence shows ETF listings and broader brokerage distribution often trigger immediate spot inflows and short‑term price spikes, which the reported ~9% intraday rise and ETF unit gains reflect. However, the concurrent ~11% drop in futures open interest tempers the outlook: it suggests derivatives traders trimmed leverage rather than doubled down, so initial price moves may be more retail‑driven than futures‑funded. Technicals indicate a short‑term rebound (higher low, RSI mid‑40s) but price remains inside a longer‑term down channel, so sustained bullish conviction requires continued ETF inflows, rising spot volumes, and stable or rising futures OI. For traders: expect near‑term volatility and potential spot accumulation following the listing (bullish), but watch fund flows, on‑chain transfers, and OI to confirm lasting trend; absent continued inflows, gains may fade.