Nasdaq-listed HBR had about $47.8 million in net assets and 5.18 million shares outstanding on July 30, while Canary’s post highlighted it as the first U.S. spot HBAR ETF.
Canary Capital revived its marketing around the Canary HBAR ETF on July 30, drawing attention to an existing Nasdaq-listed product rather than announcing a new launch. HBR, which began trading on Oct. 28, 2025 after its registration became effective with the U.S. Securities and Exchange Commission (U.S. markets regulator), held 704.35 million HBAR and about $47.8 million in net assets as of July 30. The fund had 5.18 million shares outstanding and charges a 0.95% sponsor fee. Share count rose by 50,000 from 5.13 million on July 28 to 5.18 million on July 29, though that increase alone does not reveal who created the shares or why. Performance has remained weak: Canary listed HBR’s market-price return at negative 37.32% for 2026 through July 29, negative 63.32% since inception, and a net asset value return of negative 36.48% year-to-date. Canary’s message framed HBR as the first U.S. spot HBAR ETF and tied Hedera to enterprise governance and real-world asset tokenization, but the tokenization claim was presented as forward-looking marketing. One related step has already taken place: Archax tokenized the HBR ETF on Hedera and completed an after-hours transaction on Nov. 27, 2025, according to a Hedera case study. Investors are now likely to watch for the quarterly SEC filing for the period ended June 30, which is expected to offer fuller detail on creations, redemptions, expenses and changes in the trust’s HBAR holdings.