Nasdaq Submits Application to List HBAR Exchange-Traded Fund (ETF)

This request is part of a broader wave of filings by exchanges and asset managers looking to launch ETFs tied to various altcoins.

Nasdaq has officially applied to list an exchange-traded fund (ETF) that will track the price of Hedera's native token, HBAR, recent filings have revealed.

This application is among a flurry of filings being made by exchanges and asset managers as they seek to launch ETFs linked to a diverse range of altcoins.

The US Securities and Exchange Commission (SEC) will now be tasked with reviewing these filings before any trading activity can commence.

Earlier in November, Canary Capital, an investment firm, filed to list its Canary HBAR ETF, which aims to provide investors with direct exposure to HBAR, the token underpinning Hedera's hashgraph technology. Canary has also filed for ETFs covering other prominent altcoins, including Solana, Litecoin, and XRP, along with separate filings for tokens such as Polkadot, Dogecoin, and TrumpCoin.

Meanwhile, issuers are awaiting SEC decisions on proposals to amend existing ETFs, potentially adding features such as staking, options, and in-kind redemptions.

Bitcoin's Path to a New All-Time High: Strategist Predicts $126,000 by April

The SEC's stance on crypto regulation has shifted following changes in the US presidency. During President Donald Trump's term, new approvals emerged, including the launch of two crypto index ETFs in February. This development has raised anticipation for further ETF approvals in 2025.

On Feb. 20, Franklin Templeton introduced an ETF that holds both Bitcoin and Ethereum, marking the second crypto index ETF to be launched in February, following Hashdex's Nasdaq Crypto Index US ETF debut on Feb. 14. Bloomberg Intelligence has predicted a 65% chance of an XRP ETF being approved in the US, with even higher probabilities for Solana (90%) and Litecoin (70%). However, they have not yet speculated on the likelihood of an HBAR ETF approval.

Under the Biden administration, the SEC has taken a strong-handed approach towards crypto firms, filing several lawsuits over alleged securities law violations. Nevertheless, in 2024, the SEC approved spot Bitcoin and Ether ETFs, signaling a shift in regulatory policy towards greater acceptance of digital asset investment vehicles.