On March 11, the U.S. Securities and Exchange Commission (SEC) acknowledged Grayscale’s proposal to list its Hedera ETF on Nasdaq.

The filings, submitted by Nasdaq, seek regulatory approval to list and trade shares of the Grayscale Hedera Trust. The SEC’s confirmation of the proposal has fueled speculation that the development could drive increased demand for Hedera’s native token, HBAR, potentially triggering a price surge.

SEC seeks public opinion on Grayscale's Hedera ETF

While the SEC has confirmed receipt of Grayscale’s Hedera ETF application, this acknowledgment does not indicate approval or rejection of the proposal.

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As part of its standard review process, the SEC has initiated a 21-day public comment period, allowing market participants and other stakeholders to weigh in on the proposed ETF. Following this period, the SEC will determine whether to approve, reject, or extend its review of the application.

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If approved, the Grayscale Hedera ETF would become the firm’s sixth altcoin investment product. According to the filings, shares of the trust would be traded on Nasdaq under commodity-based trust share rules.

Grayscale Operating and Grayscale Investments Sponsors would oversee the trust, while CSC Delaware Trust Company would act as the trustee and Coinbase Custody Trust Company would serve as the custodian.

As of now, Hedera ranks as the 14th largest cryptocurrency by market capitalization, according to data from CoinMarketCap.

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