Near officially submitted Form 19b-4 to the U.S. Securities and Exchange Commission (SEC) to launch an Exchange-Traded Fund (ETF) based on the Hedera Hashgraph (HBAR) digital currency. If approved, this ETF allows investors to invest in HBAR without direct purchase. Such funds usually have a positive impact on cryptocurrency acceptance as they make it easier for traditional investors to enter. This news caused a 5% increase in the price of Hedera Hashgraph; earlier, after the initial request in November 2024, this cryptocurrency had experienced a 20% growth. This move by Kinney Capital could increase the chances of approval for HBAR and Litecoin (LTC). Eric Balchunas, a Bloomberg analyst, believes that these two cryptocurrencies are now in a better position compared to other altcoins to receive regulatory approvals. In addition to HBAR, Kinney Capital has also requested the launch of an ETF based on Litecoin. According to Balchunas, Litecoin is in a favorable legal position as, unlike some other altcoins, it is not pursued by the SEC and is classified as a commodity by the Commodity Futures Trading Commission (CFTC). Kinney Capital has also submitted a request to register an ETF based on Ripple (XRP) and may introduce similar products for Solana (SOL). This movement indicates an increase in institutional investors’ interest in accessing digital currencies through traditional financial tools. While the SEC’s decision on new ETFs is still pending, this initiative could pave the way for greater cryptocurrency acceptance and the expansion of blockchain-based financial products. You can view the live and real-time prices of all tokens and cryptocurrencies on the Real-Time Digital Currency Price page.
