YEREVAN (CoinChapter.com) — Grayscale Investments has filed Form 19b-4 with the United States Securities and Exchange Commission (SEC) to introduce a Hedera (HBAR) ETF. The application, submitted through Nasdaq Stock Market LLC, is part of the company’s ongoing expansion in the crypto ETF sector.
The filing follows a similar move by Canary Capital, which had earlier submitted a proposal for an HBAR ETF. Grayscale’s entry into the Hedera ETF space marks another step in the broader push for altcoin ETFs in the United States.
Grayscale Hedera ETF Filing Details
The Grayscale Hedera ETF aims to track HBAR, the native cryptocurrency of the Hedera blockchain. If approved, the ETF will trade on Nasdaq, allowing investors to gain exposure to HBAR without directly holding the token.
The 19b-4 form is an essential step in the SEC approval process for exchange-traded funds. However, specific details, including the fund’s custodian, were not included in the filing. In previous filings, Grayscale has used Coinbase Custody for its GBTC and ETHE products, but no confirmation has been made regarding the Hedera ETF.
The filing indicates that Grayscale’s interest in a Hedera ETF dates back to January 2024. This development follows similar proposals for HBAR ETFs, showing continued interest in expanding crypto ETF options.
Grayscale Expands Crypto ETF Filings
In addition to the Hedera ETF, Grayscale has submitted applications for several other crypto ETFs, including those for Cardano (ADA), Solana (SOL), and XRP (XRP). The firm has been actively involved in crypto ETF applications, increasing its presence in the market.
The company previously won a lawsuit against the SEC, which led to the approval of spot Bitcoin ETFs in January 2024. Following that, the SEC also approved Ethereum ETFs. These regulatory developments have encouraged more crypto ETF filings, with Grayscale continuing to expand its offerings.
Crypto ETF Market and SEC Scrutiny
The SEC is currently reviewing multiple crypto ETF applications from different asset managers. Besides Grayscale, firms such as Rex-Osprey and Tuttle Capital have submitted filings, including one for a Dogecoin ETF.
Other filings suggest interest in memecoin ETFs, with applications tracking TRUMP, MELANIA, and BONK tokens. Analysts at Bloomberg have assessed approval odds for XRP, Solana, and Litecoin ETFs, but memecoin ETFs remain uncertain.
Regulatory developments, including the Kraken lawsuit settlement, have influenced the SEC’s stance on crypto ETFs. However, it remains unclear how the regulator will handle upcoming crypto ETF applications.
