Canary Capital launches first U.S. HBAR Trust for institutional investors

Canary Capital introduced the first US HBAR Trust, expanding crypto options for institutional investors.

This move offers institutional investors access to Hedera (HBAR), the native cryptocurrency of the Hedera network. The Foundation appeals to accredited investors who want to be introduced to advanced crypto investment strategies.

This is the first private HBAR foundation in the United States, the company announced.

HBAR investment options

The Hedera network is a distributed ledger technology used by businesses for a variety of applications such as tokenizing assets, issuing non-fungible tokens, and developing Web3 applications. This trust provides US investors with a structured way to invest in HBAR.

Steven McClurg, former co-founder of Valkyrie and founder of Canary Capital, highlighted the growing demand for crypto investment options beyond popular assets like Bitcoin (BTC). He noted that despite the interest, many institutional investors do not have reliable options for investing in more innovative crypto projects.

“Increasing demand for crypto offerings appears to be growing exponentially since the launch of Spot Bitcoin ETFs this year, but there remains a gap among firms with institutional experience willing to continue to innovate and provide solutions beyond retail products.”

Steven McClurg

Canary HBAR Trust closes this gap, potentially paving the way for future crypto-focused investment funds such as ETFs. The trust is open to accredited individual and institutional investors and represents an opportunity for those looking to diversify their crypto portfolios.

Additionally, Canary Capital offers other crypto hedge fund solutions targeted at sophisticated and institutional investors looking for a mix of crypto and fixed income strategies.

On September 16, Hedera helped launch the MiCA Crypto Alliance, which includes Ripple and the Aptos Foundation as founding members, and aims to help crypto companies navigate EU regulations, particularly Crypto Asset Markets regulation. The alliance focuses on increasing transparency and encouraging blockchain innovation.