HBAR ETF Narrative: Can Enterprise Blockchain Tokens Come Back?

Hedera (HBAR) faces an ETF-driven narrative as investors debate whether a spot HBAR ETF could rekindle enterprise blockchain demand. The piece explains regulatory hurdles, custody, and liquidity challenges, noting no approved HBAR ETF yet and highlighting the distinction between ETF wrappers and actual on-chain adoption. It covers adoption drivers for enterprise tokens, on-chain usage signals, and risks like supply dynamics and headline risk, offering a practical checklist for monitoring filings and liquidity before any potential ETF nome.