Solana News Today: SEC's New Rules Spark Crypto ETF Surge, HBAR Soars 80%

Hedera's HBAR token surged to $0.1816 this week, marking an 80% increase from its annual low, as the first U.S. spot HBAR ETF launched on the Nasdaq. The move followed Canary Capital's filing of Form 8-A with the SEC for its HBAR ETF, sparking speculation the product could begin trading this week, according to crypto.news. The rally coincided with broader crypto market optimism driven by a preliminary China-U.S. trade deal and rising expectations of Federal Reserve rate cuts.

The HBAR ETF filing is part of a broader wave of institutional crypto adoption. Spot Bitcoin and Ethereum ETFs have attracted $64 billion and $14 billion in inflows since their 2024 launches, respectively, the article noted. Canary's HBAR ETF, alongside Bitwise's Solana and Litecoin offerings, benefits from the SEC's new generic listing rules, which streamline approvals for crypto ETFs that meet custody and surveillance criteria. Those rules, finalized in September, eliminated the need for product-specific SEC reviews, accelerating the launch timeline.

On-chain data underscores HBAR's bullish momentum. Transaction volume spiked to $1.17 billion on October 28—the highest since July—while whale accumulation and buy dominance suggest sustained demand. Technical indicators also point to a breakout: HBAR's price pierced a descending channel, crossing above the 50-day EMA at $0.19, with analysts targeting $0.27 as a near-term resistance level.

Artificial intelligence models add nuance to the forecast. Finbold's AI, leveraging Claude and GPT-4o, predicts a 60-day average price of $0.245, with a potential upside to $0.27 if ETF inflows persist. ChatGPT-5 similarly projects a $0.25–$0.30 range by year-end, contingent on institutional adoption. However, the HBAR ETF's first-day trading volume of $8 million lags behind Bitwise's Solana ETF, which drew $69.5 million in inflows. This disparity highlights varying investor appetite, with Solana's technical infrastructure and staking yields currently outpacing HBAR's appeal.

Market observers note that HBAR's rally remains tied to its ecosystem growth. The Hedera Foundation's integration of USDC on Bybit has boosted liquidity, while the ETF's launch provides regulated access to the token. Analysts at ETF.com argue the new approval framework could unlock a wave of single-asset crypto ETFs, extending beyond major coins like Bitcoin to tokens such as XRP.

Despite short-term volatility, HBAR's trajectory reflects a broader trend: institutional legitimization of blockchain assets. With the SEC's regulatory shift and rising on-chain activity, HBAR's price could test $0.30 in the coming months, though sustained inflows and macroeconomic factors will remain critical catalysts.