Grayscale has filed another application with the SEC for a spot ETF, this time based on Hedera (HBAR). The application follows one filed by Canary Capital last year, which is also seeking regulatory approval to bring the cryptocurrency to institutional investors.
Grayscale Investments has filed an application with the US Securities and Exchange Commission (SEC) for the creation of a Hedera spot exchange-traded fund (ETF). The application, which follows a similar one filed by Canary Capital, seeks regulatory approval for a product that tracks the price of HBAR, the native cryptocurrency of the Hedera Hashgraph network.
With this move, Grayscale is looking to expand its investment product offering in the cryptocurrency market. The firm already manages a Bitcoin ETF and an Ethereum ETF, and has expressed interest in launching similar funds for other cryptocurrencies, including Cardano and XRP. Moreover, the filing for Hedera comes at a time of growing optimism in the sector, driven by a possible change in the SEC's regulatory approach under its new leadership.
Grayscale bets on Hedera Hashgraph
Grayscale is looking to expand its offering with a spot ETF that tracks the price of the HBAR token, native to the Hedera network. This digital asset has gained traction due to its Innovative technology based on Hashgraph, which promises faster and more secure transactions with lower costs. The Hedera network has a unique governance model backed by global companies such as Google, IBM and Boeing, which gives it legitimacy compared to other cryptocurrencies.
If approved, Grayscale would be able to provide its customer and investor base with an exchange-traded fund designed to track the price of the Hedera network’s native token, offering exposure to the asset without needing to own it directly.
The company filed under the 19b-4 procedure, an essential step in the regulatory process that could open the doors to new financial products based on altcoins. Moreover, as already mentioned, this filing follows a similar by Canary Capital in November, underscoring the growing interest in Hedera as a viable ETF option. The move also aligns with Grayscale’s previous efforts to launch ETFs related to other cryptocurrencies, and establish itself as one of the leading investment firms in this emerging sector.
LINK CARD AND EARNDigital asset managers see opportunities amid SEC regulatory change
Grayscale’s filing for the Hedera spot ETF comes amid growing expectations about a possible shift in the SEC’s regulatory approach.
The agency’s new leadership has raised hopes for greater openness to cryptocurrency-based investment products, prompting firms like Grayscale and Canary Capital to submit proposals for ETFs beyond Bitcoin and Ethereum. To date, the SEC has received a steady stream of cryptocurrency ETF applications in recent months, a fact that demonstrates the confidence of firms and investors that the agency could seriously consider approving these financial products.
It is important to remember that the process for an ETF to be approved by the SEC can be long and complex, and there is no guarantee that all applications will be approved. However, the SEC's growing willingness to consider these proposals, along with the recognition which has given several of these, suggests that the cryptocurrency ETF market could be about to experience significant growth in the near future.
BUY HEDERA (HBAR)The approval of a Hedera ETF would be an important milestone for the industry, as it would open the doors to greater institutional investment in this cryptocurrency and validate its potential as an investment asset.
Currently, HBAR is positioned as the twelfth most capitalized cryptocurrency in the industry, with a total market value of $ 10.000 million dollars. HBAR ranks above TON, Sui Network, Litecoin, Avalanche and Stellar in the ranking of the main cryptocurrencies.
Source: CoinMarketCap
Under the leadership of Acting SEC Chairman Mark Uyeda, the agency has taken a more receptive stance towards cryptocurrency-based financial products. Since Donald Trump’s presidential re-election in 2024, there has been a significant increase in applications for spot ETFs tied to altcoins such as Solana and XRP, and even memecoins such as Dogecoin.
These introductions respond to the growing demand for diversification from the institutional market, which is seeking exposure to digital assets beyond the most popular cryptocurrencies, such as Bitcoin and Ethereum. ETFs offer an efficient and regulated solution to meet this demand, especially in an environment where investors increasingly value the transparency and security offered by these financial products.
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Grayscale’s application for a Hedera spot ETF therefore represents an important step in the evolution of the cryptocurrency investment market. The investment firm’s decision to seek regulatory approval for a product that tracks the price of HBAR reflects its confidence in the potential of this digital asset and its commitment to offering investors a wider range of investment options in the crypto space. Its approval would be a significant milestone for the industry as it would open the doors to greater institutional investment in this cryptocurrency and validate its potential as a long-term investment asset.
Investing in cryptoassets is not fully regulated, may not be suitable for retail investors due to high volatility and there is a risk of losing all invested amounts.
