Nasdaq has submitted what is necessary for the listing of a Grayscale ETF on Hedera Hashgraph. This is not the first product on HBAR seeking approval from the SEC, but certainly one of the most particular in terms of its underlying asset. While it does include validators and companies that are part of top-tier groups, we are not looking at a cryptocurrency with large volumes or significant market capitalization.
The approval process typically occurs in two phases: on one side, the exchange that will list the product – as our readers already know – is required to submit a request for authorization, and on the other side, the manager must submit a form that explains in detail how the product works, as well as the related risks.
Will it be the first to be approved?
It depends on how the SEC will act. Hedera HBAR has never had issues with the SEC in the past – and even if it had, with the new direction of the agency responsible for market regulation, it should receive approval without too many concerns and obstacles.
As we write about products in the approval process, both for HBAR and other cryptocurrencies, there are actually several: there are some for Litecoin, Dogecoin, Ripple, Solana, and also for second, third, and last-tier cryptocurrencies (such as
#TRUMP and
#Melania ) and
#bnb .
While the SEC led by Gary Gensler has tried to hinder the approval of certain products in every way, the new SEC – which will soon be led by Paul Atkins – should have a more open attitude.
What will happen to the price of
#HBARUSD ?
We cannot offer great predictions about the price. It is not the first
#etf that is going for approval on HBAR and it is unclear how much volume and how much capital it will be able to attract.
Most likely, the turning point will be when these products are included in multi-ETF baskets. This, without a doubt, will happen.
source: criptovaluta.it