• Hedera (HBAR) price rose sharply on Nov. 12 to hit highs close to $0.07 – the very best degree since July.

The Hedera token rose greater than 20% up to now 24 hours to hit highs close to $0.07. This noticed the cryptocurrency attain its highest price degree since July and stand out amongst prime gainers.

Positive factors for HBAR got here because the cryptocurrency’s holders reacted positively to the newest Hedera information.

Particularly, the altcoin was surging after Canary Capital Group submitted an utility to checklist an exchange-traded fund for HBAR.

Canary information for HBAR ETF

The proposal to checklist and commerce shares of the Canary HBAR ETF comes amid an elevated exuberance throughout the crypto market. With the SEC’s approval of spot Bitcoin and Ethereum ETFs having pushed vital curiosity and demand from institutional buyers, the anticipation is that extra crypto property may very well be poised for the same trajectory.

Canary Capital is among the many issuers focusing on this potential inflow of funding cash. With the market seeing filings for spot ETFs for Solana, Litecoin and XRP in latest months, the addition of Hedera on the checklist has the HBAR group excited.

The submitting for the HBAR ETF comes just a few weeks after Canary launched its HBAR Belief.

Donald Trump’s historic win within the US election and the pro-crypto stance he confirmed in the course of the marketing campaign has crypto in an upbeat temper.

Because the business ponders the optimistic regulatory setting that Trump’s administration will supply, the anticipation is that approval for extra crypto funding automobiles is extremely probably. Moreso, the possibilities of a SOL, LTC, XRP or HBAR ETF being authorized will rise considerably if present SEC Chair Gary Gensler exits the company.

Trump pledged to fireplace the SEC chair when he takes over in January 2025.