Grayscale strives for Sixth Altcoin ETF as Nasdaq wants to make a list of Hedera Fund

Crypto Asset Manager Grayscale Investments continues with his offer for Altcoins and serves a new place in Hedera (HBAR) Exchange-Traded Fund (ETF) on Monday.

The Nasdaq -share market 19b-4 submission On the US Securities and Exchange Commission, Grayscale’s sixth Altcoin-oriented ETF marks.

The SEC, led by acting chair Mark Uyedahas already recognized and published for ETFs linked to Altcoins, pointing to a more supportive attitude compared to altcoin-based investment products under a Trump administration.

“The biggest advantage for having much smaller assets is approved for an ETF would be that it makes the way out for an index ETF,” said Katalin Tischhauser, head of research at Sygnum Bank, said Decrypt.

A 19B-4 application is part of a two-step process to propose a crypto ETF to the SEC, and once recognized by the agency, the submission is published in the federal register, whereby the approval process of the SEC is started.

The other spot ETF requests from Grayscale include following the performance of Polkadot (DOT), XRP, MEME COIN DOGECOIN (Doge), Cardano (Ada) and Solana (SOL).

Grayscale was one of the first to submit to convert his XRP Trust And Dogecoin Trust In ETFs, and the SEC has already recognized those archives together with Solana ETFAdd them to the federal register.

The archives for the Polkadot and Cardano ETFs are still in the early stages of the regulations.

The assessment process of the SEC usually takes 45 days from the date of publication in the federal register, during which time the committee will consider the archives and invites public comments.

After this period, the SEC can approve or reject the proposed rule changes or postpone the decision, whereby the entire process may extend to 240 days.

Grayscale is not the first asset manager to strive for a Hbar ETF. Nasdaq has one last month 19B-4 Form With the SEC to name a place hbar ETF on behalf of Canary Capital.

From now on the SEC is still revising the application, and no official approval has yet been granted

Nevertheless, Bloomberg have Senior ETF analysts Eric Balchunas and James Seyffart noted that both Hedera and Litecoin “have higher opportunities than others [ETFs] of approval. “

Published by Sebastian Sinclair