Canary HBAR ETF

Item 1.01 Entry into Material Definitive Agreements On June 9, 2026, Canary Capital Group LLC, a Delaware limited liability company (the “Sponsor”), CSC Delaware Trust Company, a Delaware corporation, as trustee (the “Trustee”) of Canary HBAR ETF (the “Trust”) entered into a Second Amended and Restated Trust Agreement (the “Second A/R Trust Agreement”). Under the Second A/R Trust Agreement, the Trust holds HBAR and issues Shares representing fractional undivided beneficial interests in the Trust’s net assets. As partial consideration for the Sponsor’s services to the Trust, including the assumption of Trust expenses, the Trust pays the Sponsor a Sponsor Fee. The Second A/R Trust Agreement authorizes the Trust to participate in a staking program. All staking rewards are paid to the Sponsor as additional compensation and are not included in the Trust’s net asset value. The Sponsor has exclusive authority to manage the Trust, and Shareholders have no management or control rights. The Trust indemnifies the Trustee and the Sponsor against losses except for willful misconduct, bad faith, gross negligence, or fraud. The Sponsor may amend the Second A/R Trust Agreement without Shareholder consent, provided no amendment adversely affects the Trust’s grantor trust status. On June 9, 2026, the Trust and the Sponsor entered into an Amended and Restated Sponsor Agreement (the “A/R Sponsor Agreement”). Under the A/R Sponsor Agreement, the Sponsor is entitled to receive all staking rewards generated from the Trust’s participation in any staking program as additional compensation for arranging for the staking of the Trust’s HBAR and for the services it provides under the A/R Sponsor Agreement and the Second A/R Trust Agreement. The Sponsor has sole authority to direct and manage all aspects of any staking program, including the decision to cause the Trust to participate or not participate in any staking program, the selection of any staking provider, the terms and conditions of any staking arrangements, and the amount and timing of HBAR to be staked, in each case without the consent of the Trust, the Trustee, or any shareholder. All staking rewards received by or on behalf of the Trust are the sole property of the Sponsor and are not considered part of the Trust’s estate or included in the calculation of the Trust’s HBAR holdings, creation HBAR amount, or net asset value. The Sponsor is not liable to the Trust or any shareholder or beneficial owner for any loss or liability arising out of or in connection with the Trust’s participation in any staking program, the selection of any staking provider, the amount of HBAR staked, or any slashing, penalty, or loss of staked HBAR, provided that the Sponsor acted in good faith and without fraud, gross negligence, bad faith, or willful misconduct. The Sponsor may amend, modify, waive, defer, or cancel such arrangements from time to time in its sole and absolute discretion. The foregoing description of the Second A/R Trust Agreement and the A/R Sponsor Agreement do not purport to be complete and are qualified in their entirety by reference to the full text of the Second A/R Trust Agreement and the A/R Sponsor Agreement, each of which is filed as Exhibit 3.1 and 10.8, respectively, and is incorporated by reference herein.