The post Nasdaq Filing for Grayscale Hedera ETF: What It Means for HBAR Price appeared first on Coinpedia Fintech News
The Nasdaq Stock Market LLC’s move to file a 19b-4 form with the United States Securities and Exchange Commission to list and trade Grayscale’s spot Hedera ETF has created immense excitement in the cryptocurrency market, especially the Hedera market. In the last seven days, the Hedera price has experienced a surge of 17.5%. In the last hour alone, the market has grown by around 0.5%. Let’s analyse the scenario deeper.
Nasdaq Files for Grayscale’s Hedera ETF
It was on Monday that the Nasdaq filed the form with the US SEC to list and trade the spot HBAR ETF of Grayscale. For an ETF to be traded on a major stock exchange, the exchange needs SEC approval.
A 19b-4 form is a key regulatory document that facilitates the introduction of new investment products like ETFs into the stock market.
As soon as the SEC acknowledges the filing, the regulator beings the approval process. For this reason, the filing is a crucial step in the process.
HBAR’s Strong ETF Approval Chances
It was not the first time that the Nasdaq approached the SEC to seek its approval to list and trade a spot Hedera ETF. Earlier, a 19b-4 form was submitted to the US SEC for the spot HBAR ETF of Canary Capital.
Importantly, renowned ETF analyst Eric Balchunas recently predicted that Hedera and Litecoin ETFs have the best chance of winning the approval of the SEC compared to other Altcoin ETFs.
Hedera: Everything One Should Know
Simply put, Hedera is a public network where anyone can build and use applications. Instead of using a traditional blockchain, Hedera uses a technology called “hashgraph.” This technology is designed to be faster, more secure, and more efficient than many blockchain systems.
According to Jonathan Dotan, the founder of EQTYLAB,
“Hedera’s enterprise-grade infrastructure, backed by a Council of global leaders like Dell Technologies, sets it apart from other blockchains by providing the scalability and security essential for bringing Verifiable Compute to market. Its visionary leadership team has long shaped the network to meet real-world business needs, positioning it as a trusted platform for enterprise adoption.”
HBAR Price Reaction
In the last 30 days, the Hedera market has seen a drop of 18.7%. However, in the last seven days, it has experienced a rise of 17.5%. In the last one hour alone, the market has surged by over 0.5%.
The total market cap of HBAR is $9,543,646,221. Its 24-hour trading volume stands at $756,217,012.
Never Miss a Beat in the Crypto World!
Stay ahead with breaking news, expert analysis, and real-time updates on the latest trends in Bitcoin, altcoins, DeFi, NFTs, and more.
