There is another big news for people wishing to invest in the Crypto industry. In fact, Grayscale Investments have applied to the American Securities and Exchange Commission (SEC) to launch Hedra (HBAR) ETF (Exchange-Trade Fund). If this ETF is approved, then it Hedera value Will track and investors will be able to benefit from its performance directly without purchasing Hedera Token. This will trade on ETF Nasdaq as there are other funds of Grayscale.
Grayscale’s Strategy
Grayscale Investments are currently very active in the crypto market and are trying to get ETF approval for many other altcoin. These include Polkadot (Dot), XRP (XRP), Dogecoin (DOGE), Cardano (ADA) and Solana (SOL). SEC has already started review of the application made for XRP, Dogecoin and Solana, while the applications of Polkadot and Cardano are still pending.
This new application for Hedera is also another step in the same direction that Grayscale is working fast in its strategy and planning to launch Crypto ETF in the future.
Recently, Grayscale Investments Grayscale dogcoin believe creation Doge, which gives investors the opportunity to get more exposure in Dogecoin. Its purpose is to make Dogecoin a simple, transparent and effective investment option, so that investors can easily invest in this cryptocurrency.
ETF approval process
The process of approving the application for ETF is somewhat difficult. A major step is 19B-4 software, which is presented to SEC. Once this application is published in the Federal Register, SEC gets 45 days to get the decision. SEC can take three possible steps either approve it or dismiss it or avoid it for review. If SEC takes more time, this process can grow up to 240 days.
Grayscale feels that the possibility of approval of Hedra ETF is quite strong, especially when it is happening at a time when some analysts and experts headed by SEC appearing Chair Mark Uyeda are doing positive predictions for experts and experts altcoin ETF. Bloomberg ETF Mavements Eric Balchunas and James Seyfart have suggested that cryptocurrency like Hedera and LiteCoin can be more likely to approve cryptocurrency than other altcoin.
Grayscale is not alone in legal battle
Grayscale is not alone trying to create ETF for Hedra. Last month, another investment firm called Canary Capital also filed 19B-4 software for ETF based on Hedera through NASDAQ. The move indicates that the demand in the market is increasing for Hbar primarily based merchandise.
Grayscale has not mentioned who will custody this ETF, but it is expected that Coinbase Custody which is already managing Grayscale’s bitcoin and ethereum trusts, can also handle the custody of this ETF.
Festival is growing
The process of obtaining the approval of Crypto ETF is difficult and competition is increasing. Both investors and market are waiting for the next step of SEC. If the Hedera ETF is approved, it will be another important win in the Crypto ETFS World, which will make even more space for Altcoin in the Traditional Finance Market.
Conclusion
At this time, there is a lot of interest in the market for Crypto ETF and if the ETF of Hedra is approved, it can also open the way for other altcoin. This will be a big step towards getting cryptocurrency a strong place in the traditional finance market.
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