Canary Capital revives HBAR crypto ETF push – Can tokenization restore demand?
In the past 60 days, the spot HBAR ETF has been dominated with zero demand
Asset manager Canary Capital has renewed its marketing push for its Spot HBAR ETF. On the 30th of July, the firm hailed Hedera Hashgraph as a key player in the next wave of real-world asset (RWA) tokenization.
According to Canary Capital, the best way to get exposure to the RWA boom for U.S investors is through its ETF product (HBR) listed on Nasdaq.
It’s no surprise that the chain has been actively positioning for RWA adoption. In fact, it’s currently leading in RWA-related developments to take advantage of the wave.
However, the institutional demand for the altcoin has been flat and intermittent.
Spot HBAR ETF demand dries up
Canary Capital debuted the product last October. Nearly a year later, it is still the only U.S spot HBAR ETF. Despite having the first-mover advantage, the overall flows have been underwhelming.
Notably, the product crossed the $100 million Cumulative Netflow in June. AS of press time, it has $105.3M in total cumulative net inflow. However, in June, it only saw two days of net inflows; there was zero demand for the rest of the month.
Similarly, it saw only four days of net inflows in July, with zero institutional appetite for the rest of the month.
As such, the spot ETF’s low demand has not significantly helped prevent the HBAR price pullback. In the past two months, the altcoin has slumped by nearly 40% from $0.11 to $0.06.
Are whales buying the HBAR dip?
So far in 2026, the $0.0650 has acted as a key support zone, and the recent losses have been consolidated above it.
In fact, the latest pullback in late Q2 and early Q3 has seen renewed whale interest, as shown by the green bubble maps.
In other words, some whales were likely viewing the current HBAR value as a good discounted window to add long positions.
The price chart showed a developing double bottom pattern, which could reinforce the whale’s outlook if the pattern is finalized. The final formation could be validated if HBAR recovers and decisively surges above $0.076.
If the scenario plays out, the next bullish target would be the 200-day Moving Average around the $0.08 price level. The projection would be invalidated if HBAR cracks below the 2026 support zone of $0.0650.
Final Summary
- Canary Capital has renewed its push for its U.S spot HBAR ETF amid muted demand
- There was increased whale interest as the altcoin consolidated above $0.0650.
