The U.S. SEC has fixed November 12, 2025, as the final ruling date on Grayscale’s bid to list its spot Hedera ETF on Nasdaq, reaching the maximum allowable review period under Section 19(b)(2) of the Securities Exchange Act. The decision window cannot be extended further, forcing the regulator to approve or deny the product.
If authorized, the fund would become the first U.S.-listed spot HBAR ETF, offering regulated access to Hedera’s enterprise-focused network. Grayscale filed the proposal in February alongside a Form S-1. Analysts see a 60%–80% chance of approval, supported by Hedera’s corporate adoption and compliance standards.
Additional HBAR ETF filings from firms including Canary Capital and KraneShares underscore growing demand for altcoin-based investment vehicles. Hedera recently transferred 250 million HBAR to its staking rewards account as part of pre-ETF liquidity planning, signaling strategic positioning around expected institutional inflows.
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