- SEC opens public review for Canary HBAR ETF and Grayscale’s Polkadot ETF filings.
- The ETFs of Canary HBAR and Grayscale Polkadot offer regulated access to crypto assets.
- Kraken aims to go public in Q1 2026, with the SEC agreeing to dismiss its lawsuit.
The U.S. Securities and Exchange Commission (SEC) has acknowledged the public comment process for two significant filings in the ETF sector. Canary’s HBAR ETF 19b-4 filing, along with Grayscale’s Polkadot ETF 19b-4 filing, is now open for public review. This step is crucial for both companies as they move forward with their respective ETF proposals.
Canary’s HBAR ETF is based on the Hedera blockchain’s native token, HBAR. The proposed ETF aims to provide investors exposure to the market dynamics of HBAR without directly owning or trading the cryptocurrency. In its filing, Canary outlines plans for listing the ETF on U.S. national securities exchanges. The company also addresses regulatory concerns regarding market surveillance and investor protection.
Similarly, Grayscale’s Polkadot ETF 19b-4 filing seeks to track the value of Polkadot, a blockchain protocol designed to facilitate interoperability between multiple blockchains. The Polkadot ETF aims to offer a regulated investment vehicle for investors, allowing them to gain exposure to Polkadot’s market performance without owning the cryptocurrency itself.
The SEC’s acknowledgment of these filings initiates the public comment period. Interested market participants and other stakeholders can now submit their feedback on the proposals. These comments play a crucial role in the SEC’s review process, as the commission assesses whether the ETFs meet the necessary legal and regulatory standards.
Both the HBAR ETF and the Polkadot ETF filings are part of a broader trend of institutional interest in cryptocurrency-based investment products. If the SEC approves the filings, the ETFs could further integrate blockchain assets into the mainstream financial market.
Related: 21Shares Seeks SEC Approval for Spot Polkadot ETF Launch
Once the public comment period concludes, the SEC will continue its review process to decide on the approval or rejection of the proposed ETFs. The decision will play a key role in shaping the future of cryptocurrency investment products.
Kraken’s IPO Plans
Sources report that Kraken is aiming to go public in the first quarter of next year. The company, which was founded in 2011, has been one of the leaders in the digital asset trading space.
Kraken is also working with the SEC to resolve legal matters, as the exchange announced that the SEC staff had agreed in principle to dismiss the lawsuit against the company. Additionally, Kraken has raised about $27 million in primary capital, and the move toward an IPO reflects the growing mainstream acceptance of cryptocurrency firms in traditional financial markets.
