**Grayscale Investments Takes a Bold Step with Hedera (HBAR) ETF Filing, Sparking Investor Excitement**
Grayscale Investments has officially submitted a 19b-4 form to the U.S. Securities and Exchange Commission (SEC) to launch a Hedera (HBAR) ETF, aiming to give investors a chance to engage with HBAR. Following this announcement, HBAR experienced a notable 9% increase, with many investors anticipating further gains once the ETF receives SEC approval. This filing, made through Nasdaq Stock Market LLC, represents another strategic move by the asset management giant to attract institutional capital into the cryptocurrency space.
In response to the news, HBAR quickly reacted, surging by 9%. As of now, Hedera’s native token is trading at $0.2282, reflecting a remarkable 25.19% increase over the past week, with a market capitalization of $9.54 billion. The Grayscale Hedera ETF is designed to track the underlying price of HBAR, allowing both institutional and retail investors to gain exposure to the asset without the need to directly hold or manage it. The 19b-4 filing is a crucial step in the ETF approval process, and if approved, the Hedera ETF will be listed on the Nasdaq exchange, similar to Grayscale’s other cryptocurrency funds. Speculation suggests that Coinbase Custody may serve as the custodian for the fund, although specific operational details remain undisclosed.
Historically, it’s worth noting that this isn’t the first HBAR ETF filing to reach the SEC; Canary Capital has also submitted a proposal for an HBAR ETF. This development signifies a growing interest from both institutional and retail investors in the Hedera ecosystem.
**Grayscale’s Expanding ETF Strategy**
Grayscale has made significant investments to lead the charge in crypto trusts and ETF innovations. This latest filing adds to a roster of major cryptocurrencies, including Cardano (ADA), Solana (SOL), and XRP, which are currently under regulatory review. Grayscale’s confidence in securing these approvals is bolstered by its recent legal victory against the SEC, which prompted a reevaluation of Bitcoin ETF applications. This legal success played a pivotal role in the eventual approval of spot Bitcoin ETFs in January 2024, followed closely by Ethereum ETFs.
With a strong foothold in the crypto ETF landscape, Grayscale is well-positioned to advocate for the launch of additional altcoin ETFs.
**Broader Crypto ETF Trends**
As Grayscale forges ahead, the SEC is inundated with a wave of crypto ETF applications. Beyond Bitcoin and Ethereum, firms like Tuttle Capital have also filed for Dogecoin (DOGE) ETFs. Additionally, proposals for memecoin ETFs related to TRUMP, MELANIA, and BONK are still under consideration, although their approval has been complicated by the ambiguous regulatory environment surrounding cryptocurrencies. Bloomberg has even provided approval odds for ETFs based on XRP, Solana, and Litecoin, highlighting the dynamic and evolving nature of the crypto ETF landscape.
