Nasdaq Submits 19b-4 Filing to SEC for Grayscale’s Hedera ETF Approval

• Grayscale seeks SEC approval for a Hedera ETF to offer investors exposure to HBAR without direct ownership.
• More firms are filing for crypto ETFs as regulatory interest grows with altcoins like Solana XRP and Cardano in focus.
• The SEC faces pressure to approve more crypto ETFs as institutional demand rises and regulatory attitudes shift.

The Nasdaq Stock Market LLC has submitted a 19b-4 filing to the U.S. Securities and Exchange Commission (SEC) on behalf of Grayscale Investments. The proposed filing seeks SEC approval for listing an ETF that trades Hedera tokens (HBAR). If approved, the product will track the price of HBAR, the native currency of the Hedera blockchain. The 19b-4 submission marks a crucial step in securing regulatory approval for this financial product. 

Grayscale’s proposed ETF will enable investors to gain exposure to HBAR without direct ownership. The Nasdaq exchange will host this ETF after regulatory approval. Subsequent filings may verify Coinbase Custody as the fund’s custodian although critical details remain undisclosed at this time. 

Grayscale Expands Crypto Investment Offerings

Grayscale continues to expand its portfolio by filing applications for crypto ETFs like Solana, XRP and Cardano. The company is at the forefront of pushing to obtain regulatory approval for Crypto ETFs. Its efforts strengthened after its legal victory against the SEC that resulted in spot Bitcoin ETF approvals in January 2024. 

Canary Capital previously submitted a 19b-4 filing for a Hedera ETF, making Grayscale’s application one of multiple bids to list HBAR-based investment products. This indicates rising institutional interest in structured crypto investment options. 

SEC Faces Growing Crypto ETF Pressure

The SEC has been receiving increasing applications for altcoin ETFs, reflecting a shift in the regulatory landscape. Beyond Hedera, asset managers like Rex-Osprey and Tuttle Capital have applied for Dogecoin ETFs, testing the regulator’s stance on broader crypto investment products. 

Bloomberg analysts suggest that Hedera and Litecoin ETFs have high approval odds due to progress made with regulatory filings. However, the future of memecoin ETFs remains uncertain. The SEC recently settled a lawsuit with Kraken , signaling a more flexible approach to crypto regulation. With growing institutional demand, investors now await the SEC’s next move on crypto ETF approvals.