Nasdaq submits key 19b-4 filing for Grayscale's Hedera ETF
Quick Take Nasdaq filed a 19b-4 on behalf of Grayscale’s spot Hedera ETF on Monday. Bloomberg Analyst Eric Balchunas previously said Hedera and Litecoin ETF applications have the “best odds” of approval.
The Nasdaq Stock Market LLC filed a 19b-4 form with the U.S. Securities and Exchange Commission on Monday to list and trade Grayscale's spot Hedera (HBAR) exchange-traded fund.
A 19b-4 filing is the second part of a two-step process for proposing a crypto ETF to the SEC. Once acknowledged by the SEC, the filing will be published in the Federal Register, initiating the agency's approval process.
The filing on behalf of Grayscale comes a week after the Nasdaq submitted a 19b-4 for Canary Capital's spot HBAR ETF . Last week, Bloomberg Senior ETF Analyst Eric Balchunas said that Hedera and Litecoin have the "best odds and the pole position" among altcoin ETF filings, given the level of progress they have had with the SEC.
Hedera is a decentralized public network that uses the Hashgraph consensus algorithm to facilitate transactions. The Hedera token is governed by a council composed of prominent companies and organizations such as Google and IBM, responsible for decision-making and token distribution.
Hedera traded down 14.5% over the past 24 hours at $0.22, according to The Block's HBAR price page .
Since the reelection of Donald Trump, the U.S. has seen a flurry of new crypto ETF filings based on tokens beyond bitcoin and ether. With hopes that the now crypto-positive SEC would hand out approvals, U.S. issuers have filed spot ETF applications for Solana, XRP, Cardano, Litecoin and Dogecoin.
Earlier today, the New York Stock Exchange filed a 19b-4 on behalf of Bitwise's Dogecoin ETF. Bloomberg analysts predicted last month that Dogecoin ETFs have a 75% chance of approval from the SEC.
Disclaimer: The content of this article solely reflects the author's opinion and does not represent the platform in any capacity. This article is not intended to serve as a reference for making investment decisions.
You may also like
XRP, NEAR, HYPE, XLM suffer major declines, key support levels tested
Semiconductor sectors surge nearly 7% + oil prices cool down, AI computing power launches a counterattack "faces another challenge": tonight’s CPI data becomes the touchstone
The U.S. Bureau of Labor Statistics will release the October Consumer Price Index report on Tuesday, with an expected overall growth rate of 0.3% and a core growth rate of 0.2%. Although the annualized inflation rate will not be included in the report due to last year's government shutdown, the results may show the Federal Reserve's inflation rate remains well above its 2% target. "We must accept failures on both cost and inflation fronts," Chicago Fed President Austan Goolsbee said on Monday.
Schroders Emerging-Market Bond Strategy Moves Onto Solana
The narrative of AI "taking jobs" is overturned: consulting and temp recruitment both rise, October data reveals U.S. employment is increasing, not decreasing
In October, nonfarm payrolls increased by 165,000, far exceeding expectations. The consulting industry reached a record high, and since the launch of ChatGPT, AI-related jobs have seen a net increase of 786,000 positions, showing that employment has risen rather than declined.
Crypto prices
More
