Canary Capital renewed its marketing push for the Canary $HBAR ETF on July 30, describing HBR as the first U.S. spot exchange-traded product holding Hedera’s native token.

The post was not a new launch announcement. HBR began trading on Nasdaq on Oct. 28, 2025, after its registration became effective with the U.S. Securities and Exchange Commission.

The latest fund data gives a clearer view of its current scale. HBR held 704.35 million $HBAR and reported about $47.8 million in net assets on July 30. The product had 5.18 million shares outstanding and charged a 0.95% sponsor fee.

Canary $HBAR ETF now holds 704 million $HBAR

Canary’s official fund page shows that $HBAR represented effectively all the trust’s assets, apart from about $30 in cash and other items. The 704.35 million-token position was valued at approximately $47.8 million using the administrator’s stated price. HBR provides price exposure through brokerage accounts without requiring investors to manage private keys.

Shares outstanding increased from 5.13 million on July 28 to 5.18 million on July 29. That 50,000-share increase was the latest reported expansion in the fund’s share count. It does not, by itself, establish the identity or strategy of the investors behind the creation.

Additionally, HBR recorded $989,000 in net inflows on July 2, its largest single-day inflow since May 15. The fund then listed roughly $49.14 million in net assets, showing that its asset value can move even when new shares enter because $HBAR’s market price also changes.

Latest filing shows losses despite share growth

HBR’s first-quarter SEC filing showed 4.2 million shares outstanding and $50.34 million in net assets on March 31. The trust created 740,000 shares and recorded no redemptions during the quarter. However, $HBAR depreciated 17.8% during the period, and the fund reported a $10.58 million decrease in net assets from operations.

More recent performance data remained weak. Canary listed HBR’s market-price return at negative 37.32% for 2026 through July 29 and negative 63.32% since inception. Its net asset value return was negative 36.48% year-to-date.

In the latest market data available early July 31, HBR traded near $9.33, while $HBAR changed hands around $0.0727. Those figures show current pricing only and do not prove that Canary’s July 30 post caused any market move.

Enterprise and tokenization claims need context

Canary said HBR gives registered access to a network governed by organizations including Google and IBM. The Hedera Council says its members run network nodes, vote on governance matters and approve technology updates. Its structure uses equal voting rights and term limits.

The asset manager also called HBR “built for the next wave of real-world asset tokenization.” That is a forward-looking marketing claim rather than a verified forecast. One related development has already occurred: Archax tokenized the HBR ETF on Hedera and completed an after-hours transaction on Nov. 27, 2025, according to a Hedera case study.

That blockchain transaction did not change how ordinary Nasdaq investors buy and sell HBR shares. It instead demonstrated a separate tokenized representation handled through regulated market infrastructure.

What investors should watch next

HBR is structured as a single-asset trust, not an investment company registered under the Investment Company Act of 1940. Canary warns that the product is not diversified and that investors could lose their entire principal. The trust currently lists BitGo Trust Company and Coinbase Custody Trust Company as its digital-asset custodians.

Investors will next look for the quarterly SEC filing covering the period ended June 30. That report will provide fuller figures for share creations, redemptions, expenses and changes in the trust’s $HBAR position. Until then, daily holdings, share counts and net assets provide the most current official measures of fund activity.

source : https://cryptonews.net/news/altcoins/33228097/