The U.S. Securities and Trade Fee has set Nov. 12, 2025, as the ultimate date to approve or deny Nasdaq’s proposal to record and commerce the Grayscale Hedera Belief.
Abstract
- The SEC should approve or deny Grayscale’s spot HBAR ETF by Nov. 12, with no additional extensions doable.
- Approval would mark the primary U.S. spot HBAR ETF, giving buyers regulated entry to Hedera’s native token.
- The choice follows rising institutional demand for altcoin ETFs amid elevated regulatory scrutiny.
The SEC’s deadline marks the final stage of evaluate for a possible U.S. spot HBAR ETF.
In response to a Nov. 2 submit on X by Monetary Press, which connected the SEC filings, the extension represents the utmost interval allowed underneath Part 19(b)(2) of the Securities Trade Act. This implies the SEC can not delay and should challenge a ruling by that date.
If authorized, it could introduce the primary spot Hedera (HBAR) ETF to U.S. markets, providing regulated publicity to the token.
SEC submitting and timeline
The proposal was initially filed by Greyscale on Feb. 28, in accordance with Nasdaq Rule 5711(d), which offers with belief shares which can be primarily based on commodities. Proceedings began on June 12 and had been final postponed till Sept. 9.
The evaluate has been prolonged a number of occasions. Grayscale additionally filed a Kind S-1 registration assertion outlining the belief’s construction to carry HBAR and observe its spot value, web of charges and liabilities.
The SEC’s cautious strategy to altcoin ETFs is mirrored on this delay. Officers said that extra analysis on surveillance methods, volatility, and liquidity was obligatory. Given Hedera’s enterprise adoption and ISO 20022 compliance, analysts now estimate a 60–80% likelihood of approval by 12 months’s finish.
Institutional momentum and ETF outlook
Hedera’s ETF prospects coincide with a rising record of crypto fund purposes. Canary Capital’s spot HBAR ETF faces a last SEC choice on Nov. 8, 4 days sooner than Grayscale’s, and will set the tone for subsequent rulings.
Hedera has additionally made strategic strikes in latest weeks, transferring 250 million HBAR to its staking rewards account, a pre-ETF technique to activate yields and lock provide. The corporate has additionally been hinting at “main developments” by means of November.
There at the moment are not less than six U.S. ETF filings linked to HBAR, together with these from REX-Osprey and KraneShares, as institutional demand for regulated crypto merchandise grows. On-chain metrics present sturdy community exercise and company use instances in tokenization, whereas X discussions counsel merchants see the SEC choice window as a key take a look at for altcoin ETF adoption.
With over 90 crypto-related ETF filings underneath evaluate, together with for XRP, Dogecoin, and Litecoin, the SEC’s November selections may outline the subsequent section of institutional crypto integration.
