Major US asset management firm Grayscale Investments has filed a 19b-4 application with the US Securities and Exchange Commission (SEC) to list and trade the Hedera ETF.
On behalf of Grayscale, the Nasdaq Stock Exchange filed a 19b-4 filing for the Hedera ETF product.
If approved, the Hedera ETF would trade on the Nasdaq exchange, like Grayscale’s other funds. Key details about the fund, such as the custodian chosen for the Hedera ETF, have not been disclosed. However, it has been reported that Coinbase, which is Grayscale’s choice for Bitcoin and Ethereum ETFs GBTC and ETHE, could be chosen as the custodian.
Canary Capital led the HBAR filings last week by filing for an HBAR ETF.
This is not Grayscale's first ETF application for altcoins, as it has previously applied for ETFs for Cardano (ADA), Dogecoin (DOGE), Solana (SOL), and XRP.
Apart from popular altcoins, ETF applications have also been made for popular memecoins such as TRUMP, MELANIA, and BONK. According to Bloomberg analysts, while approval rates for XRP, Solana, and Litecoin ETFs remain high, the likelihood of memecoin ETFs receiving approval still remains uncertain.
*This is not investment advice.
