Activity in Canary Capital's spot @Hedera ETF has been subdued this month, raising questions about investor appetite for $HBAR exposure. The Canary HBAR ETF (ticker: HBR) has recorded net flo
Activity in Canary Capital's spot @Hedera ETF has been subdued this month, raising questions about investor appetite for $HBAR exposure. The Canary HBAR ETF (ticker: HBR) has recorded net flows on only three days in October, and one of them, October 16, was only the product's second day of net outflows since launch, at about -$559K.
HBR is not the first time the fund has struggled for traction. Canary Capital announced the launch of the Canary HBAR ETF (Nasdaq: HBR), a U.S. exchange-traded fund providing spot exposure to HBAR, the native token of the Hedera network. It began trading on October 28, 2025. On that first day, both it and Canary's Litecoin fund recorded zero net inflows.
Demand picked up briefly afterwards. On October 30, 2025, HBR inflows reached $29.9 million, bringing cumulative net inflows to $32.11 million and net assets to $33.05 million, according to SoSoValue data reported by Yahoo Finance.
Recent sessions have been far quieter. Data compiled by SoSoValue and reported by TokenPost shows that on October 22, 2026, HBR recorded net inflows of $107,442 after three trading days with no net flows, with net assets of $63.39 million, equivalent to 1.78% of HBAR's market capitalization. Earlier in the week, the fund saw zero net flows on October 21, its third quiet session in a row.
The weak flow pattern is not new. In August, one report noted that daily ETF flows have been uneven, with the fund recording only one day of net outflows since launch and flows turning close to flat. The same report said inflows remain modest, price action has stayed range-bound, and pending catalysts like the CLARITY Act have not yet resolved.
That matters for issuers weighing new products. If trading and flows do not improve, it appears unlikely that additional Hedera ETFs will follow. Fund sponsors typically look at sustained inflows and trading volume when deciding whether a new listing is worth the cost, and HBR's recent record offers little encouragement.
For now, HBR remains the main regulated route into HBAR in the US. Whether October's muted activity is a temporary lull or a sign of fading interest will become clearer as the market moves into the final weeks of the year.
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