According to Wu, Canary Funds has submitted an application for the HBAR ETF to the U.S. Securities and Exchange Commission (SEC). This is another important move following Canary's launch of the HBAR Trust in October. HBAR is the native cryptocurrency of the Hedera network, which is known for its enterprise-grade distributed ledger technology, supporting applications such as asset tokenization, Web3 deployment, and NFT issuance.