Crypto asset manager Grayscale Investments is advancing plans to launch an exchange-traded fund (ETF) for Hedera Network’s native token HBAR, according to a new filing.
The Nasdaq Stock Market submitted a 19b-4 filing to the U.S. Securities and Exchange Commission (SEC) to list and trade the Grayscale Hedera Trust.
ETFs allow traders to expose themselves to assets such as precious metals and crypto without having to actually purchase them. The SEC approved Bitcoin (BTC) and Ethereum (ETH)-based ETFs in 2024.
The Ethereum competitor Hedera is one of several altcoin-focused ETFs that Grayscale is pursuing.
HBAR is trading for $0.24 at time of writing, up 7.4% in the last 24 hours.
Other activity by Grayscale this year includes filing for the Grayscale Cardano Trust, which, if approved, would be the first-ever ETF for the ETH rival ADA.
Grayscale is also pursuing an ETF for Solana (SOL) and is applying to convert the existing Grayscale XRP Trust into a spot exchange-traded fund.
The crypto asset management firm also recently announced a new trust giving investors access to the popular meme asset Dogecoin (DOGE).
The flurry of Grayscale’s filing activity comes as US President Donald Trump is promising a more friendly regulatory environment for digital assets. He has nominated pro-crypto Paul Atkins to head the SEC, an agency that was widely considered anti-crypto under former SEC head Gary Gensler.
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