Nasdaq has filed to list a new ETF designed to hold Hedera Network's native token, HBAR. This move underscores the growing interest in alternative cryptocurrencies among investors.
Trend of Crypto ETFs
Nasdaq's filing is the latest in a series of applications to the SEC by exchanges and asset managers aiming to list ETFs linked to alternative cryptocurrencies. The SEC must review and approve these filings before trading can commence.
Additional Filings by Canary
In November, Canary Capital, an asset manager, filed for a listing of an ETF focused on the HBAR token. Additionally, there have been filings for ETFs containing Solana, Litecoin, and XRP. Other issuers have proposed funds based on Polkadot, Dogecoin, and TRUMP.
Regulatory Background and Market Expectations
Under former President Joe Biden, the SEC filed over 100 lawsuits against crypto firms, alleging various securities law violations. Analysts anticipate more crypto ETF approvals in 2025 following the SEC's revised stance on cryptocurrencies.
The situation in the crypto ETF market continues to evolve, with many participants waiting for the SEC's decisions. The emergence of new ETFs could significantly alter the investment landscape by providing investors with more tools for portfolio diversification.
