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The founder and managing partner of hedge fund SkyBridge Capital, Anthony Scaramucci, has responded bullishly to an update by the Hedera Foundation. In an earlier post, the foundation had hinted at the possibility of a spot Hedera (HBAR) exchange-traded fund (ETF).
Canary Capital’s filing adds momentum for altcoin ETFs
Notably, the Hedera Foundation post, "Time for an HBAR ETF?" is a teaser suggesting that asset managers are considering the launch of the product. In the post, U.S. Securities and Exchange Commission (SEC) Form 8-A filed by Canary Capital was attached.
This signals registration for trading on the Nasdaq. According to the paperwork, the Hedera ETF filing cited S-1 number 333-283135, which was initially filed on Nov. 12, 2024. It received an S-1 amendment as recently as Oct. 7, 2025.
Scaramucci believes this development is positive news for Hedera, and it will only be a matter of time before an HBAR ETF hits the market. "It's the sound of inevitability," he wrote.
The renowned hedge fund manager is signaling optimism and confidence in the adoption of Hedera by the crypto community of investors.
Canary Capital’s ETF filing indicates there is momentum on the crypto market for digital assets. Many were stunned by the filing, considering the ongoing U.S. government shutdown that has impacted staff strength at major establishments.
The crypto industry had been anticipating a series of ETF approvals for various filings, which include XRP, with multiple firms indicating interest. Some of the asset managers that filed applications with the SEC are Canary Capital, Grayscale, 21Shares, Bitwise, CoinShares and WisdomTree.
Other pending applications are for Cardano ETF, Solana ETF and Chainlink. However, the shutdown has affected the anticipation of approval as stakeholders continue to monitor developments.
Ever since the Bitcoin ETF made its debut in January 2024, altcoins have been in a race to also gain institutional exposure by way of an ETF. So far, only Ethereum has received the nod from the regulatory body, with applications for XRP and others pending.
Hedera surges over 17% as investors react
With notable personalities like Anthony Scaramucci expressing optimism that a Hedera ETF is "inevitable," market participants are excited.
This has also triggered a spike in the value of Hedera on the crypto market in the last 24 hours.
Hedera is currently changing hands at $0.2114, which represents a 17.44% within the time frame. The coin, which opened trading with a low of $0.1766, surged to a peak of $0.2191 before settling at the current market price.
Hedera is witnessing increased trading activity as well, with volume up by a staggering 337.44% to $854.09 million, per CoinMarketCap data.
Dan Burgin
Vladislav Sopov
U.Today Editorial Team