21Shares has expanded its suite of crypto investment products with the launch of a physically backed Hedera (HBAR) Exchange-Traded Product (ETP), giving European investors easier access to the native token of the Hedera network.
The new ETP, trading under the ticker HDRA, is now live on Euronext Amsterdam and Euronext Paris, joining Valour’s earlier HBAR product as the second such offering in the European market. With this launch, both institutional and retail investors in Europe can now gain direct, fully collateralized exposure to Hedera without the need for a crypto wallet or direct interaction with blockchain infrastructure.
Gregg Bell, Chief Business Officer at the Hedera Foundation, emphasized the importance of such financial instruments in facilitating institutional access to digital assets. “As more institutions seek secure ways to access digital assets, 21Shares continues to lead the way by bridging traditional finance and crypto with clarity and confidence,” Bell stated. “This collaboration gives investors a straightforward way to access HBAR and brings them closer to a network trusted by leading institutions worldwide.”
Growing Momentum in Europe
The move marks the second HBAR ETP launch in Europe. The first was issued by Valour in mid-2024, initially listing on the Frankfurt Stock Exchange before being added to Euronext Amsterdam. With 21Shares joining the fray, competition in the space is heating up as demand for compliant, easy-to-access crypto investment products grows.
U.S. Market Eyes SEC Decision
While European investors now have two options for exchange-traded HBAR exposure, U.S. investors continue to wait for regulatory clarity. ETF issuer Canary Capital and digital asset manager Grayscale have both filed for spot HBAR ETFs in the U.S., with applications currently under review by the U.S. Securities and Exchange Commission (SEC).
Canary Capital filed its initial application in November 2024, followed by an amended S-1 and 19b-4 filing in February 2025, which formally triggered the SEC review. Grayscale joined the race in March 2025, with Nasdaq filing a 19b-4 on its behalf.
The SEC’s final decision on both filings is expected by June 11, a date that is highly anticipated in the crypto investment world. Analysts believe HBAR ETFs, along with Litecoin (LTC) ETFs, stand strong chances for approval due to their growing institutional interest and clear use cases.
A Gateway to Institutional Adoption
The launch of HDRA by 21Shares further solidifies Hedera’s standing as an enterprise-grade network, boasting partnerships with major organizations and governing council members like Google, IBM, and Boeing. With a focus on sustainability, security, and speed, Hedera continues to draw interest from both tech and financial circles.
If approved, U.S.-based HBAR ETFs could open the floodgates to institutional capital, further legitimizing Hedera’s role in the digital asset ecosystem.
