Asset management company Grayscale has submitted Form 19b-4 to the U.S. Securities and Exchange Commission (SEC) to list and trade the Hedera (HBAR) tradable fund on the stock exchange (ETF). If approved, this ETF will be traded on Nasdaq, allowing investors to benefit from its price fluctuations without directly holding HBAR. Although the fund’s custodian is not confirmed yet, speculations suggest it could be Coinbase Custody. Grayscale’s move comes after Canary Capital previously applied to launch a Hedera ETF. Additionally, Grayscale has recently filed requests for creating ETFs related to Cardano (ADA), Solana (SOL), and Ripple (XRP). The company’s successful legal battles against the SEC have increased market optimism towards approving these products. Besides Grayscale, other asset management companies are also working on launching crypto ETFs. For instance, Rex Osprey and Tuttle Capital have registered requests for a Dogecoin (DOGE) ETF. Even popular meme coins like Trump (TRUMP), Melania (MELANIA), and Bonk (BONK) have proposals for ETF offerings to track their prices. Bloomberg predicts high chances of Ripple, Solana, and Litecoin (LTC) ETF approvals, although the fate of meme coin ETFs remains uncertain. Nevertheless, the growing trend of requests indicates the crypto market is moving towards institutional acceptance at an accelerated pace. You can check the live prices of all tokens and cryptocurrencies on the instant digital currency prices page.
