Nasdaq has formally submitted an software to checklist an exchange-traded fund (ETF) centered on Hedera’s native token, HBAR, in response to current filings.
This request is a part of a broader wave of filings by exchanges and asset managers seeking to launch ETFs tied to varied altcoins.
The US Securities and Trade Fee (SEC) now faces the duty of reviewing these filings earlier than any buying and selling exercise can start.
Earlier in November, Canary Capital, an funding agency, filed for approval to checklist its Canary HBAR ETF, aiming to supply buyers with direct publicity to HBAR, the token related to Hedera’s hashgraph know-how. Canary has additionally proposed ETFs for different outstanding altcoins, together with Solana, Litecoin, and XRP, together with different filings for tokens like Polkadot, Dogecoin, and TrumpCoin.
On the identical time, issuers are awaiting SEC choices on proposals to change present ETFs, which might introduce options similar to staking, choices, and in-kind redemptions.
The SEC’s stance on crypto regulation shifted following modifications within the US presidency. Below the management of President Donald Trump, new approvals started to emerge, together with the launch of two crypto index ETFs in February. This shift has sparked expectations for much more ETF approvals in 2025.
On February 20, Franklin Templeton launched an ETF that holds each Bitcoin and Ethereum, marking the second crypto index ETF to be launched in February, following Hashdex’s Nasdaq Crypto Index US ETF debut on February 14. Bloomberg Intelligence has estimated a 65% chance of an XRP ETF approval within the US, with even increased probabilities for Solana (90%) and Litecoin (70%). Nonetheless, they’ve but to take a position on the possibilities for an HBAR ETF approval.
Below the Biden administration, the SEC took a tricky stance towards crypto corporations, submitting quite a few lawsuits associated to alleged securities regulation violations. But, in 2024, the SEC accredited spot Bitcoin and Ether ETFs, signaling a shift in regulatory coverage in direction of extra acceptance of digital asset funding automobiles.
