Canary Capital's HBAR Spot Exchange Traded Fund (ETF) increased its Hedera holdings over the vacation season, ending recent inactivity with a modest but measurable expansion in assets. Data shows that the ETF has added nearly 8 million HBAR, bringing its total holdings to roughly 473.1 million tokens as of December twenty ninth.
Inventories rise after a period of subdued ETF flowsETF now controls nearly 1% of limited HBAR supply
Source: X
At current market prices, the worth of the added HBAR tokens is roughly $53 million, while the entire ETF net assets are roughly $53.1 million.
Inventories are rising after a period of muted ETF inflows
The increase in holdings followed a period of muted ETF activity by which the fund experienced consecutive sessions of flat or minimal net inflows. On December 24, the ETF recorded slightly below $1 million in net inflows, marking its first positive inflow in several sessions.
Rather than signaling a surge in recent demand, the change shows incremental creation activity. This is a typical feature of early-stage crypto ETFs, especially during low liquidity holiday trading conditions.
Since its launch on October 28, 2025, Canary Capital's HBAR ETF has added to its holdings in measured phases moderately than continuous streams of inflows. In the weeks following its launch, the ETF quickly gathered over 360 million HBAR before transitioning to a slower, incremental growth pattern.
The recent increase to around 473 million HBAR suggests that accumulation has continued over time. However, this occurred at a more controlled pace, reflecting institutional positioning moderately than speculative inflows.
ETF now controls nearly 1% of limited HBAR supply
With current holdings of nearly 473 million tokens, the ETF now controls roughly 0.95% of Hedera's limited HBAR supply of fifty billion. Although this concentration is modest in absolute terms, it’s notable for a regulated vehicle with limited day by day trading volume and a comparatively short operating history.
Importantly, tokens held by ETFs are generally held in custody and will not be actively traded. This implies that this a part of the offer will probably be withdrawn from circulation within the short term unless there are withdrawals.
The divergence between inventory growth and subdued day by day inflows reflects the mechanics of the ETF market moderately than a change in investor sentiment. The creation and redemption of baskets occurs in baskets tied to allocation cycles, custody adjustments and rebalancing schedules, and not only to secondary market trading activity.
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This dynamic is especially pronounced toward the tip of the yr, when institutional divisions often pause recent deployments, rebalance commitments, or delay capital allocation until the brand new reporting period. The timing of the recent addition is consistent with these seasonal patterns.
HBAR ETFs operate on a smaller scale in comparison with larger crypto ETF products, which naturally limits the speed at which capital may be deployed without incurring tracking error or execution risk. As a result, institutional commitment tends to construct regularly, prioritizing execution quality over speed.
