Nasdaq's recent filing to list and trade Grayscale’s Hedera ETF has captured significant interest in the cryptocurrency market.
Nasdaq's 19b-4 Form
On Monday, Nasdaq filed the 19b-4 form with the US SEC to list and trade Grayscale’s spot HBAR ETF. SEC approval is necessary for this product to be traded on a major exchange.
Hedera ETF Approval Chances
This was not the first time Nasdaq approached the SEC to list a spot Hedera ETF. Renowned ETF analyst Eric Balchunas recently predicted that Hedera and Litecoin have the best chances of receiving SEC approval compared to other altcoins.
Understanding Hedera
Hedera is a public network for building and using applications. Instead of a traditional blockchain, it uses 'hashgraph' technology designed for faster and more secure operations. According to Jonathan Dotan, founder of EQTYLAB, 'Hedera’s enterprise-grade infrastructure, supported by a Council of global leaders, provides scalability and security that sets it apart from other blockchains.'
The growing interest in Hedera following the ETF filing might lead to further appreciation and popularity in the market.
