NASDAQ files for Grayscale Hedera ETF after 28% HBAR price surge
This is the second ETF application in a week
Following the Canary HBAR ETF filing, NASDAQ has submitted a 19b-4 application to the U.S. Securities and Exchange Commission (SEC) to obtain approval for listing the Grayscale Hedera ETF.
This marks the second major market catalyst for Hedera (HBAR) in the past week, supporting its price recovery. HBAR began to rebound on February 25 after NASDAQ filed for the Canary HBAR ETF, leading to a 28% price surge over the week.
HBAR price dynamics for 24 hours. Source: CoinMarketCap
In the last 24 hours, HBAR lost 2%, trading below $0.24 at the time of writing. However, the latest ETF filing could reignite investor interest in Hedera.
One of the top contenders for a spot ETF among altcoins
Bloomberg ETF analyst Eric Balchunas believes that Litecoin (LTC) and Hedera (HBAR) have the highest chances of gaining approval among all altcoin ETFs.
Hedera is a public network designed for decentralized applications (dApps), utilizing hashgraph technology instead of traditional blockchain.
"Hedera's infrastructure meets enterprise-grade standards, and its Governing Council, including global partners like Dell Technologies, makes it unique. It is built for real-world business applications with scalability and security," said Jonathan Dotan, founder of EQTYLAB.
If the Grayscale Hedera ETF listing is approved, it could serve as a new catalyst for further price growth.
As we wrote, Nasdaq has taken a significant step toward expanding digital asset offerings by filing to list the Canary HBAR ETF, designed to provide investors exposure to Hedera’s native token, HBAR.
