SEC Delays Hedera HBAR ETF Decision to November 2025, Extends Review Period to Maximum Limit

The U.S. Securities and Exchange Commission has postponed its deadline to decide on the proposed Canary HBAR ETF, establishing a new decision date of November 8, 2025. The regulatory body indicated the necessity for additional time to assess the application and evaluate public commentary.

Nasdaq originally submitted the request in February under Rule 5711(d) for commodity-based trusts. A revised proposal filed in March reset the review timeline, generating significant interest throughout cryptocurrency markets. The SEC has now utilized Section 19(b)(2) of the Securities Exchange Act to extend its deliberation window to the maximum permissible duration.

Approval would mark this as the first U.S.-listed exchange-traded fund linked to Hedera Hashgraph's native token. The final determination could potentially shape the regulatory pathway for numerous other cryptocurrency-based ETF applications currently pending approval.