- SEC has acknowledged the NASDAQ filing for Grayscale Hedera Trust (HBAR)
- The SEC took 21 days to decide to approve, deny, or initiate proceedings
- This followed a 19b-4 NASDAQ filing for the Grayscale HBAR ETF
Big players like Grayscale are getting in on the game, and we see the SEC acknowledging the Nasdaq filing for Grayscale Hedera Trust, which was preceded by a 19b-4 Nasdaq filing on Grayscale HBAR ETF.
Grayscale Hedera Trust and the Grayscale HBAR ETF Details
So, Grayscale has taken on HBAR from Hedera, specifically founding and already receiving interest from NASDAQ in its Grayscale Hedera Trust. More specifically, the Grayscale Hedera Trust, where Grayscale Operating and Grayscale Investments will act as sponsors, with CSC Delaware Trust Company as trustee and Coinbase Custody Trust Company as custodian.
NASDAQ proposed a rule change that would allow it to list and trade Grayscale Hedera Trust shares, which the SEC has acknowledged and has taken 21 days to approve, reject, or initiate proceedings. That is, within 21 days, it will become clear whether Grayscale will move forward with HBAR, and already, among other factors, a potential bullish moment for the token can be envisioned.
If all goes well, the second such incentive is that Grayscale will likely convert Hedera Trust into the Grayscale HBAR ETF, which is also where Canary Capital’s spot HBAR ETF aims to go. More specifically, we saw the 19b-4 from NASDAQ on the Grayscale HBAR ETF earlier this month, but that would be the next step after the current bid if successful.
Find out why HBAR is important and why it deserves no less attention – and, in some ways, even more than Bitcoin, Ethereum, or XRP. This does not mean that HBAR is a dark horse doomed to success, but its approaches and applications are fundamentally different, and in the long term, this may play an important role in the development of DeFi.
Conclusions
But let’s not get too ahead of things. Our focus is to follow them closely, evaluate them soberly, and consider all possible options. Is there any reason to think that major players will expand their interest in HBAR and regulators will take a favorable position, especially considering the new Donald Trump administration? Yes, definitely.
Is there any guarantee that it won’t get stuck due to many different factors and that we will see Bitcoin and Ethereum ETFs dominate for a long time to come? That could be a viable option as well.
Get a better understanding of why the SEC rulling is critical in crypto and be adaptive to the rapidly evolving regulation, financial, and crypto landscape.
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