The Big Play: Nasdaq Pushes for a Grayscale Hedera ETF
Something big is happening in the world of cryptocurrency ETFs, and it could change the game for altcoins. Nasdaq has officially submitted a 19b-4 filing to the U.S. Securities and Exchange Commission (SEC) on behalf of Grayscale, aiming to launch a spot Hedera ETF (HBAR ETF). This move is part of a growing trend of bringing more altcoins—beyond just Bitcoin and Ethereum—into the mainstream financial market.
Why Is This a Big Deal?
Right now, most crypto ETFs that have been approved are either Bitcoin or Ethereum-based. However, Grayscale and other companies are pushing to expand the market to altcoins, including Hedera, Litecoin, Solana, XRP, Cardano, and even Dogecoin. The fact that Nasdaq is backing this filing shows that there is real institutional interest in these assets.
Bloomberg’s top ETF analyst, Eric Balchunas, has already said that Hedera and Litecoin have the best chances of getting ETF approvals. If this happens, it could signal a major shift in how investors and regulators view altcoins.
Understanding the Process: How Does an ETF Get Approved?
To launch a crypto ETF in the U.S., there’s a two-step approval process with the SEC:
- S-1 Filing – This is the first step, where the fund manager (Grayscale in this case) submits details about how the ETF will work.
- 19b-4 Filing – This is the second step, which comes from a stock exchange (like Nasdaq) asking for approval to list and trade the ETF.
Once the SEC acknowledges the 19b-4 filing, it is published in the Federal Register, kicking off the agency’s review process.
What Is Hedera, and Why Does It Matter?
Hedera is different from Bitcoin and Ethereum because it doesn’t use blockchain—instead, it operates on a Hashgraph consensus algorithm. This makes transactions:
- Faster (higher transactions per second)
- Cheaper (lower fees)
- More energy-efficient (better for the environment)
Hedera is also backed by big players like Google and IBM, who sit on its governing council. If a Hedera ETF gets approved, it could bring more credibility and investment into the network, pushing its adoption forward.
Why Now? Trump’s Re-Election and the Crypto Boom
Since Donald Trump won reelection, there has been a wave of new crypto ETF filings. The reason? Many believe his administration will be more crypto-friendly, increasing the chances that the SEC will approve altcoin ETFs. Companies are moving quickly, trying to get in before the rules change again.
For example, just today, the New York Stock Exchange filed a 19b-4 for Bitwise’s Dogecoin ETF. Bloomberg analysts believe Dogecoin ETFs have a 75% chance of approval—which would have been unthinkable just a few years ago.
Key Takeaways: Why This News Matters for You
- Altcoins Are Gaining Institutional Recognition – If Hedera and Litecoin ETFs get approved, it could pave the way for more altcoin ETFs in the future.
- Hashgraph Technology Is Becoming More Mainstream – Hedera’s approach is unique, and an ETF could boost its adoption.
- Regulatory Winds Are Changing – The SEC, under a crypto-friendly administration, may start approving more crypto-based financial products.
- Market Reactions Matter – HBAR’s price dropped after the news, but long-term, an ETF approval could send it soaring.
This is just the beginning of what could be a massive shift in the crypto market. If more altcoins get ETF approval, it could open the floodgates for mainstream investors, bringing billions of dollars into the space. Keep an eye on the SEC’s next moves—because they could shape the future of cryptocurrency.
