Grayscale Investments has submitted a 19b-4 submitting to the U.S. Securities and Alternate Fee (SEC) in an effort to record and commerce a Hedera ETF.
The appliance, filed via Nasdaq Inventory Market LLC, is a part of the agency’s broader technique to develop its portfolio of cryptocurrency funding merchandise.
The proposed exchange-traded fund (ETF) goals to trace the value of HBAR, Hedera’s native cryptocurrency, permitting institutional buyers to realize publicity with out immediately holding the asset. Whereas key particulars—such because the fund’s custodian—stay undisclosed, Coinbase Custody is a probable candidate, given its current position with Grayscale’s Bitcoin (GBTC) and Ethereum (ETHE) trusts.
Grayscale’s curiosity in a Hedera ETF was first seen in early 2024, aligning with efforts from different companies like Canary Capital, which has additionally been advocating for an HBAR ETF. If accepted, the product will commerce on Nasdaq, becoming a member of Grayscale’s rising suite of crypto funding automobiles.
Grayscale has been actively pursuing ETF approvals past Bitcoin and Ethereum. Latest filings embody purposes for Cardano, Solana, and XRP ETFs, positioning the agency as a pacesetter within the push for regulated crypto funding merchandise.
The corporate’s confidence in securing approvals stems from its authorized victory towards the SEC, which performed a pivotal position in opening the door for spot Bitcoin ETFs in early 2024. That success paved the way in which for Ethereum ETFs and has fueled optimism about additional approvals for various cryptocurrencies.
Grayscale is just not alone in looking for regulatory approval for crypto ETFs. Different asset managers, together with Rex-Osprey and Tuttle Capital, have filed proposals for Dogecoin ETFs, whereas speculative memecoin ETFs—monitoring belongings like TRUMP, MELANIA, and BONK—have additionally surfaced.
