Grayscale Investments has submitted a 19b-4 filing to the U.S. Securities and Exchange Commission (SEC) in an effort to list and trade a Hedera ETF.
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The application, filed through Nasdaq Stock Market LLC, is part of the firm’s broader strategy to expand its portfolio of cryptocurrency investment products. The proposed exchange-traded fund (ETF) aims to track the price of HBAR, Hedera’s native cryptocurrency, allowing institutional investors to gain exposure without directly holding the asset. While key details—such as the fund’s custodian—remain undisclosed, Coinbase Custody is a likely candidate, given its existing role with Grayscale’s Bitcoin (GBTC) and Ethereum (ETHE) trusts.
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Grayscale’s interest in a Hedera ETF was first noticed in early 2024, aligning with efforts from other firms like Canary Capital, which has also been advocating for an HBAR ETF. If approved, the product will trade on Nasdaq, joining Grayscale’s growing suite of crypto investment vehicles.
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Grayscale has been actively pursuing ETF approvals beyond Bitcoin and Ethereum. Recent filings include applications for Cardano, Solana, and XRP ETFs, positioning the firm as a leader in the push for regulated crypto investment products. The company’s confidence in securing approvals stems from its legal victory against the SEC, which played a pivotal role in opening the door for spot Bitcoin ETFs in early 2024. That success paved the way for Ethereum ETFs and has fueled optimism about further approvals for alternative cryptocurrencies.
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Grayscale is not alone in seeking regulatory approval for crypto ETFs. Other asset managers, including Rex-Osprey and Tuttle Capital, have filed proposals for Dogecoin ETFs, while speculative memecoin ETFs—tracking assets like TRUMP, MELANIA, and BONK—have also surfaced.
Alexander Zdravkov
