Canary unveils 1.95% fee for spot HBAR ETF
Canary Capital proposes a 1.95% management fee, among the highest for crypto ETFs, as it seeks SEC approval for a spot HBAR fund tracking Hedera's native token.
Key Takeaways
- Canary Capital revealed a 1.95% management fee for its proposed spot HBAR ETF.
- The ETF would give investors direct exposure to Hedera's HBAR token without requiring them to own the asset.
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Canary Capital, an asset management firm focused on crypto investments, unveiled a 1.95% management fee for its proposed spot HBAR exchange-traded fund today.
The fee structure covers HBAR, the native token of the Hedera network, a distributed ledger platform used for decentralized applications. The spot ETF would directly track HBAR’s current market price, allowing investors to gain exposure without holding the digital asset.
The 1.95% fee positions Canary’s offering at the higher end of the crypto ETF spectrum. Canary’s spot Litecoin ETF proposal disclosed fees around 0.95%, while management fees for crypto ETFs have historically ranged from 0.2% to 2%.
Spot crypto ETFs require approval from the U.S. Securities and Exchange Commission, with recent filings indicating growing regulatory interest in expanding beyond Bitcoin and Ethereum to other digital assets.
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