2025-03-04
The Nasdaq Stock Market has submitted a
19b-4 form to the U.S. Securities and Exchange Commission (SEC) to list and
trade Grayscale's Hedera (HBAR) exchange-traded fund (ETF).
This is the second step in the process
of getting approval for a crypto ETF. Once the SEC acknowledges the filing, it
will be published in the Federal Register, starting the official review
process.
According to Bloomberg analyst Eric
Balchunas, Hedera and Litecoin ETFs have the best chance of approval among all
altcoin ETF applications.
This filing comes just a week after
Nasdaq submitted another 19b-4 for Canary Capital’s Hedera ETF.
Hedera is a public, decentralized
network that uses the Hashgraph consensus algorithm for secure and fast
transactions.
It is managed by a council of major companies
like Google and IBM, which help with decision-making and token distribution.
Hedera Price and Market Trends
Hedera’s price dropped 14.5% in the last 24 hours to $0.22.
The market has seen many new crypto ETF applications since Donald
Trump's reelection, as many expect the SEC to be more open to crypto ETFs.
Other cryptocurrencies with ETF applications include Solana, XRP,
Cardano, Litecoin, and Dogecoin.
Dogecoin ETF Also Filed
The New York Stock Exchange submitted a 19b-4 form for a Bitwise
Dogecoin ETF. Bloomberg analysts predict a 75% chance that the SEC will approve
Dogecoin ETFs.
This wave of ETF filings signals growing interest in altcoin ETFs,
expanding beyond just Bitcoin and Ethereum.
