Nasdaq Files for Grayscale HBAR ETF with the SEC | Airdrop Alert Pro

Nasdaq has formally filed Form 19-B 4 with the SEC for approval to list and trade Grayscale Hedera Trust (HBAR) shares. This document is a standard step in the HBAR Exchange Traded Fund (ETF) approval process.

The shares classified as commodity-based trust shares under NASDAQ Rule 5711(d). This aligns them with regulated investment vehicles such as spot Bitcoin (BTC) ETFs.

Grayscale HBAR ETF Waiting for SEC Green Light

The document marks a series of latest developments Work hard to bring Hedera Enter the regulated financial focus. this Submitted a suggestion Under Section 19(b)(1) of the U.S. Stock Exchange Act of 1934. This allows communication to require changes to rules to list new financial instruments.

“The proposed rule changes are intended to improve the mechanism for free and open markets, in general, to protect investors and the public interest as it will promote the listing and trading of stocks, thereby enhancing competition among market participants, thereby enabling investors and market interests,” he said. Register read.

Nasdaq’s move follows a similar application representing Canary Capital. Asset managers have also been pursuing HBAR-based ETFs.

Canary Capital first submitted an S-1 application November 12, 2024. The application for 19b-4 was filed in late February ETFs approve pipeline advances.

Currently, neither Grayscale nor Canary Capital’s HBAR ETF proposals have been published in the Federal Register. This means both are in the preliminary review stage.

this The SEC is currently evaluating Before determining the next step, these files comply with the program and integrity requirements. After publication, these recommendations will enter a 45-day initial review period, during which the SEC can approve, refuse or extend the evaluation schedule. If the SEC takes more time, it may extend the audit process to up to 240 days before making a final decision.

If approved, Grayscale and the Canadian capital HBAR ETF will provide investors with regulated avenues to gain access to HBAR without having to directly hold assets. This reflects a growing trend in institutional interest based on cryptocurrency investment products.

at the same timeHBAR previously saw a brief price increase of 10% Following the news that Nasdaq submitted the Canary Capital ETF. However, the latest developments failed to produce a similar market response.

instead, HBAR falls 6.8% In the past 24 hours. Its trading price was $0.23 at press time. Despite the decline, HBAR still outperforms others Smart contract platform Cryptocurrency, totaling 8.8%, according to Co Ringecko.