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.
[adinserter block="1"]ETFs allow traders to gain exposure 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 promises a more friendly regulatory environment for digital assets. He has nominated pro-crypto Paul Atkins to lead the SEC, which was widely considered anti-crypto under former SEC chair Gary Gensler.
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