Canary Capital has brought Hedera’s HBAR token into the ETF mainstream. The firm filed a Form 424B3 prospectus supplement with the SEC for its spot HBAR ETF, trading under the ticker HBR on Nasdaq.
The filing, submitted around October 27, 2025, preceded the fund’s trading debut on Nasdaq the following day. It makes HBR the first US spot ETF offering direct exposure to HBAR, the native cryptocurrency of the Hedera network.
What the filing actually means
A 424B3 is a prospectus supplement, essentially the final paperwork that tells investors exactly what they’re buying before shares start changing hands. The more important backstory is the S-1/A filing Canary submitted on September 22, 2025, which served as the precursor registration statement. The 424B3 was the last regulatory hurdle before shares could actually trade.
The ETF is structured as a grantor trust that holds 100% HBAR, plus minor cash reserves. That structure means investors own a proportional share of actual HBAR tokens sitting in custody, not derivatives or futures contracts.
