Asset manager Canary Capital filed an amendment for its S-1 registration for the Canary Spot ETF, setting a 1.95% management fee for the HBAR ETF, making it one of the most expensive crypto-based exchange-traded funds. The fee reflects the increasing costs for investors seeking diversified access to altcoin markets.

Canary Capital’s HBAR ETF would track HBAR’s market price, providing investors with exposure without the risks of holding the token. Despite a decline in HBAR’s price to $0.22, down 7% on the day, trading volume rose 152% to $438 million, indicating sustained investor interest amidst ETF filing developments.

Approval expectations for altcoin spot ETFs, including HBAR, are high, with Bloomberg analysts noting a 90% probability of approval. The 1.95% fee offer poses a challenge, but HBAR’s short-term price rebound depends on macro market sentiment, as top cryptocurrencies like Bitcoin and Ethereum also traded in the red.

Read more at Yahoo Finance: Canary Capital Confirms HBAR Spot ETF Fee as Approval Odds Hit 90%