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Nasdaq has filed a 19b-4 form with the Securities and Exchange Commission (SEC) to list and trade Grayscale’s spot Hedera (HBAR) ETF.
The move follows Canary HBAR's ETF filing, marking the second ETF-related milestone for Hedera within a week.
Since ETF speculation took off on February 25, HBAR has surged by 28%, reflecting increased investor confidence and growing interest in the token. HBAR experienced an 11% surge in a single day following the Grayscale filing.
Grayscale, which has the third-largest Bitcoin ETF by market cap, recently added a Polkadot ETF to the list of its ever-growing crypto ETF filings, including XRP, Solana, Cardano, and Dogecoin.
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The SEC has already begun reviewing applications for XRP, Dogecoin, and Solana, while Polkadot and Cardano await evaluation.
If the Grayscale Hedera ETF gains approval, it would enable investors to track HBAR’s price movements without directly holding the token. Thelisting could further boost Hedera’s visibility and liquidity in traditional financial markets.
The SEC now has 45 days to approve, reject, or extend its review of the Grayscale Hedera ETF. If extended, it could take up to 240 days before a final verdict is reached.
Being an American crypto project, Hedera could fall under US President Donald Trump's crypto tax exemption for US firms. If implemented the tax policy would "put non-American crypto at a -37% tax disadvantage" according to WEF member Shayan Salehi.
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