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Nasdaq Submits 19b-4 Filing to SEC for Grayscale’s Hedera ETF Approval
Grayscale Investments has filed a 19b-4 submission with the Securities and Exchange Commission (SEC) through Nasdaq, seeking approval for its proposed Hedera ETF. This move marks another significant step in expanding cryptocurrency investment options for investors.
The submitted filing proposes listing an ETF that tracks the price of HBAR, the native currency of the Hedera blockchain. If approved, this would enable investors to gain exposure to HBAR without direct ownership. The Nasdaq exchange would host this ETF following regulatory approval.
Grayscale’s move is not surprising, given its recent history of pushing for crypto ETF approvals. The company made headlines in January 2024 after securing a legal victory against the SEC, ultimately paving the way for spot Bitcoin ETF approvals.
The submission also highlights growing institutional interest in structured crypto investment options. Grayscale has already filed applications for other crypto ETFs, including Solana, XRP, and Cardano. This trend signals that asset managers are eager to expand their offerings to cater to a broader range of investors.
Interestingly, this proposal comes as the SEC faces mounting pressure from asset managers to approve more crypto ETFs. Regulatory attitudes towards cryptocurrencies seem to be shifting, with recent developments suggesting a more flexible approach. The settlement between Kraken and the SEC may have contributed to this shift.
The 19b-4 filing is critical in securing approval for Grayscale’s proposed ETF. The submission outlines key details regarding fund governance, ownership structure, and other essential information necessary for regulatory consideration.
Grayscale has demonstrated its commitment to democratizing crypto exposure by expanding its offerings beyond traditional cryptocurrencies like Bitcoin and Ethereum. This move highlights the growing demand for alternative investment options that cater to a broader audience.
The recent surge in institutional interest underscores the need for regulatory clarity on these innovative products. The SEC’s decision will have far-reaching implications, and investors eagerly await further developments.
In related news, Bloomberg analysts predict that ETFs focused on Hedera and Litecoin may possess high approval odds due to significant progress in regulatory filings. However, the future of memecoin ETFs remains uncertain.
The crypto market is eager to see how this proposal unfolds, as it has the potential to significantly expand access to alternative investment options for mainstream investors.
Source: https://cryptonewsland.com/nasdaq-submits-19b-4-filing-to-sec-for-grayscales-hedera-etf-approval/
