Whales Eyeing HBAR Dip as Canary Capital Revives ETF Push

Canary Capital has renewed its efforts to market its Spot HBAR ETF, which debuted last October on the Nasdaq exchange. The firm sees Hedera Hashgraph as a key player in the next wave of real-world asset tokenization and believes that investing in its ETF is the best way for U.S. investors to get exposure to this trend.

However, despite being the only U.S. spot HBAR ETF available, institutional demand has been flat and intermittent. In June, the product crossed $100 million in cumulative net inflow, but only saw two days of net inflows that month. In July, it only saw four days of net inflows.

Despite this low demand, some analysts believe that whales are buying into the HBAR dip. According to data from CryptoQuant, there has been renewed interest in HBAR from these large investors, who may be viewing the current price as a good discounted window to add long positions.