Lucía Peña
The Nasdaq Stock Market LLC has formally submitted a 19b-4 filing to the U.S. Securities and Exchange Commission (SEC), seeking approval to list and trade Grayscale’s spot Hedera (HBAR) exchange-traded fund (ETF).
This filing represents the second step in the approval process for a crypto ETF. Once acknowledged by the SEC, the document will be published in the Federal Register, officially starting the regulatory review process.
Grayscale’s filing follows Nasdaq’s recent submission of a 19b-4 for Canary Capital’s spot HBAR ETF. According to Bloomberg Senior ETF Analyst Eric Balchunas, Hedera (HBAR) and Litecoin (LTC) currently hold the strongest chances of gaining SEC approval among altcoin ETF applications, thanks to their regulatory progress.
Hedera’s Unique Approach to Blockchain Technology
Hedera is a decentralized public network that utilizes the Hashgraph consensus algorithm to process transactions efficiently. Unlike traditional blockchain structures, Hedera’s system enables high-speed transactions with lower fees.
Governance for the network is overseen by a council of major industry players, including Google and IBM, which are responsible for network decisions and token distribution.
Currently, HBAR is trading at $0.22, reflecting a 14.5% decline in the last 24 hours, according to PRIME’s price tracker.
Growing Interest in Altcoin ETFs Amid Regulatory Shifts
Since Donald Trump’s reelection, the U.S. has witnessed a surge in new crypto ETF filings beyond Bitcoin and Ethereum. With increasing optimism surrounding a more crypto-friendly SEC, several financial firms have applied for spot ETFs tied to Solana (SOL), XRP, Cardano (ADA), Litecoin (LTC), and Dogecoin (DOGE).
Earlier today, the New York Stock Exchange (NYSE) filed a 19b-4 on behalf of Bitwise’s Dogecoin ETF. Bloomberg analysts have estimated that Dogecoin ETFs have a 75% chance of receiving regulatory approval from the SEC.
As the crypto ETF landscape continues to evolve, these latest filings indicate a growing push for diversification beyond Bitcoin and Ethereum, setting the stage for a new wave of digital asset investment opportunities.
