American asset management firm Grayscale Investments has filed 19b-4 to list and trade Hedera ETF with the United States Securities and Exchange Commission (SEC). Nasdaq Stock Market LLC made the filing on behalf of the firm as the firm pushes to expand its crypto product list.
Grayscale Hedera ETF is Not New
Per the filing, Grayscale plans to list the ETF product to track the underlying price of HBAR, the native currency of the Hedera blockchain. The 19b-4 is a crucial filing in the approval process for an exchange-traded fund (ETF) product. If approved, qualified investors can gain exposure to HBAR without directly holding the asset.
If approved, the Hedera ETF product will trade on the Nasdaq exchange, like other funds from Grayscale investments. Key details tied to the fund, like the chosen custodian, were not disclosed. However, subsequent filings might confirm the custodian as Coinbase Custody, which the firm tapped for its GBTC and ETHE products.
The Grayscale push for Hedera ETF has been spotted as early as January. Over the past few weeks, Canary Capital has pioneered the push for an HBAR ETF with the SEC. This implies that the Grayscale Hedera ETF product will not be the first of its kind.
This is a breaking news, please check back for updates!!
The post Just In: Grayscale Files 19b-4 For Hedera ETF With US SEC appeared first on CoinGape.
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