Canary HBAR ETF reaches US$47.8M

• The Canary HBAR ETF reached US$47.8 million in assets after launching on Nasdaq.
• The fund gives investors regulated exposure to Hedera (CRYPTO:HBAR) without directly holding the token.
• The launch adds to the growing number of cryptocurrency investment products listed in the United States.

The Canary HBAR ETF held US$47.8 million in assets after its launch on Nasdaq, according to the fund's latest figures.

The exchange-traded fund gives investors exposure to Hedera (CRYPTO:HBAR) through a regulated investment product instead of buying the cryptocurrency directly.

The fund attracted assets during its first trading sessions as more cryptocurrency ETFs entered the US market following recent regulatory approvals.

The launch expands the range of cryptocurrency ETFs available to investors alongside products linked to assets including Bitcoin (CRYPTO:BTC) and Ethereum (CRYPTO:ETH).

Exchange-traded funds allow investors to buy and sell shares that track an underlying asset through traditional stock exchanges.

The growth in cryptocurrency ETFs reflects rising demand for regulated digital asset investment products, although future inflows will depend on investor demand and market conditions.

At the time of reporting, Hedera price was $0.06867.