Nasdaq Files to List and Trade Grayscale's Spot Hedera (HBAR) ETF

The move follows Canary HBAR's ETF filing, marking the second ETF-related milestone for Hedera within a week.

Nasdaq on Monday filed a 19b-4 form with the Securities and Exchange Commission (SEC) for Grayscale to list and trade its spot Hedera (HBAR) ETF.

The filing comes a week after Canary HBAR applied to list its own Hedera ETF, marking the second ETF-related milestone for the token.

Since ETF speculation took off on February 25, HBAR has surged by 28%, indicating increasing investor confidence and interest in the token. Following the Grayscale filing, HBAR experienced an 11% surge in a single day.

Grayscale, known for the third-largest Bitcoin ETF by market cap, recently included Polkadot in its expanding portfolio of crypto ETFs, which also features XRP, Solana, Cardano, and Dogecoin.

The SEC has already commenced reviewing applications for XRP, Dogecoin, and Solana, while Polkadot and Cardano are still pending evaluation.

If approved, the Grayscale Hedera ETF will allow investors to follow HBAR's price fluctuations without needing to own the token itself. This listing could generate more attention and liquidity for Hedera within traditional financial markets.

The SEC now has 45 days to decide whether to approve, deny, or postpone its review of the Grayscale Hedera ETF. In case of an extension, it could take up to 240 days to reach a final verdict.

As an American crypto project, Hedera could benefit from US President Donald Trump's proposed crypto tax exemption for US firms.

If implemented, the tax policy would “put non-American crypto at a -37% tax disadvantage” according to World Economic Forum member Shayan Salehi who claims that "this is going to backfire spectacularly.”