
The United States Securities and Exchange Commission (SEC) has opened a public comment period for the ETF filings of Canary’s HBAR and Grayscale’s Polkadot. This development marks a significant milestone in the quest for regulated access to crypto assets.
Canary’s proposed HBAR ETF aims to grant investors exposure to the market dynamics of Hedera, without requiring them to directly own or trade the cryptocurrency. To achieve this goal, the company plans to list its ETF on U.S. national securities exchanges. The filing addresses regulatory concerns related to market surveillance and investor protection.
Grayscale’s Polkadot ETF, on the other hand, is designed to track the value of Polkadot, a blockchain protocol intended to facilitate interoperability between multiple blockchains. By offering this regulated investment vehicle, investors will be able to gain exposure to Polkadot’s market performance without directly owning the cryptocurrency.
The public comment period allows interested stakeholders and market participants to submit their feedback on these proposals. The SEC will use these comments to assess whether the ETFs meet all necessary legal and regulatory standards.
This development is part of a broader trend of institutional interest in cryptocurrency-based investment products. If approved, the ETFs could significantly contribute to integrating blockchain assets into mainstream financial markets.
It is worth noting that Kraken, a leading digital asset trading platform founded in 2011, aims to go public by the first quarter of next year. The company has also agreed with the SEC to dismiss its lawsuit, having raised around $27 million through primary capital.
Source: https://cryptotale.org/sec-acknowledges-etfs-of-canary-hbar-and-grayscale-polkadot/