- Grayscale’s application for the introduction of a Hedera-ETF at NASDAQ was accepted by the US stock exchange supervision SEC.
- This has started a three -week period in which the public can give arguments for it and against it before the SEC begins its decision -making.
Die SEC hat Grayscale investments’ application for a stock market-traded Hedera-ETF officially recognized . Remarkably, the Nasdaq had previously submitted a similar 19b-4 form for the HBAR-Spot ETF from Canary Capital, which underlines the growing interest in regulated investment products for the HBAS token.
Grayscale intends to write down a spot-hbar ETF on the NASDAQ exchange and offer investors direct engagement in HBAR without having to keep the asset directly. Important institutional actors will be involved in the proposed ETF: BNY MELLON Asset Servicing is expected to act as an administrator and transfer agent, Coinbase Custody Trust Company serves as a custodian and CSC Delaware Trust Company takes on the role of the trustee.
Grayscale’s advance for an HBAR ETF is part of its ongoing efforts to expand its crypto investment portfolio, with additional registrations for ETFs, which with Polkadot (dot)Ripple (XRP), Dogecoin (DOGE), Solana (SOL) und Cardano (there) be connected . The time of these submissions coincides with the growing optimism for a more crypto-friendly regulatory environment, especially since US President Donald Trump has started to implement a policy that favors digital assets.
With the recognition through the SEC, the proposal enters into a critical phase. A 21-day public commentary period has now been opened, which enables those involved to submit their findings, concerns or support for the ETF proposal. After this period, the SEC will check the feedback and evaluate the potential effects of the ETF. Based on its evaluation, the SEC will then decide whether it approved the proposal, rejected or extends the test procedure.
Hedera course reacts
After the announcement of the recognition of the HBAR ETF proposal from Grayscale, Hedera experienced a considerable increase in price. It is currently the 13th largest cryptocurrency after market capitalization and is rated at around $ 8 billion. Hbar has been 2.94 % in the last 24 hours to $ 0.1990increased whereby the trading volume has increased by 13.7 % to $ 615 million, which shows an increased market interest.
The technical indicators indicate that a double floor pattern forms on the 12-hour chart that indicates a possible movement towards $ 0.25 when the upward trend continues. The relative strength index (RSI) is currently 46.60 and thus reflects neutral market conditions without clear purchase or sales pressure.
Coincodex forecast that the heder acid could increase by 14.97 % to around $ 0.233 by April 11, 2025. In view of the considerable price increase that Bitcoin experienced after approval of a BTC ETF, a similar approval for an HBAS ETF could act as a booster for the hedge acid. In addition, a successful start could encourage other asset managers to apply for their own HBAR ETFs, which would further strengthen the position of the asset on the cryptom market.
