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Nasdaq Files with SEC to Trade Grayscale Hedera ETFs: What About HBAR?
In a recent development, the Nasdaq Stock Market LLC has filed a 19b-4 form with the U.S. Securities Exchange Commission (SEC) to list and trade Grayscale’s Spot Hedera Exchange-traded fund. This move is significant as it indicates that investors may soon have an opportunity to gain exposure to HBAR without having to directly own the cryptocurrency.
While this news might seem positive, HBAR’s price has taken a hit in recent hours. The altcoin currently trades at $0.2272, representing a decline of 9.18% over the past day. This significant drop suggests that investors may be experiencing bearish sentiments regarding the asset.
The data reveals that Hedera’s active accounts have declined by an astonishing 93% over the past three months, indicating decreased network usage and adoption rates. While this news is expected to positively impact HBAR’s market sentiment and price movement in the long run, it has not yet done so.
Source: https://ambcrypto.com/nasdaq-files-with-sec-to-trade-grayscale-hedera-etfs-what-about-hbar
