Grayscale Investments is stepping up its efforts in the crypto market by filing with the SEC to launch an ETF based on Hedera (HBAR). Nasdaq helped with the filing process. If approved, this ETF would track HBAR’s price, allowing investors to benefit from its performance without having to buy the token directly. Like their other funds, it would be traded on Nasdaq.
Grayscale’s been busy lately, chasing ETF approvals for a bunch of altcoins: Polkadot (DOT), XRP, Dogecoin (DOGE), Cardano (ADA), and Solana (SOL) are all on their list. The SEC has already started reviewing the filings for XRP, Dogecoin, and Solana, while Polkadot and Cardano are still in the queue. This Hedera filing follows the same playbook, showing Grayscale’s not slowing down anytime soon.
The 19b-4 filing is a key hurdle in the ETF approval process. Once it’s published in the Federal Register, the SEC gets 45 days to decide—approve it, reject it, or kick the can down the road for more review. That process could stretch out to 240 days if they take their sweet time.
With acting SEC Chair Mark Uyeda calling the shots, some analysts are feeling optimistic about altcoin ETFs. Bloomberg’s ETF gurus, Eric Balchunas and James Seyffart, reckon Hedera and Litecoin ETFs might have an edge over the others waiting in line.
Grayscale’s not the only one eyeing Hedera. Canary Capital jumped in last month with its own 19b-4 filing through Nasdaq, hinting at a growing appetite for HBAR-based products. Grayscale hasn’t spilled the beans on who’d custody this ETF, but Coinbase Custody, already managing their Bitcoin and Ethereum trusts—seems like a solid bet for later filings.
Competition’s ramping up, and everyone’s watching the SEC’s next move. If approved, the Hedera ETF would be another win for crypto ETFs, cementing altcoins’ place in traditional markets.
Also Read: BlackRock Adds its Bitcoin ETF in $150B Investment Plan
