Binance News: Nasdaq Files with SEC for Grayscale Hedera ETF Trading
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In a significant move for the cryptocurrency market, Nasdaq has taken a crucial step towards listing and trading Grayscale’s Spot Hedera Exchange-traded Fund (ETF). Here’s a closer look at the development and its potential implications.
Nasdaq Files with SEC to Trade Grayscale Hedera ETFs
Nasdaq has filed a 19b-4 form with the U.S. Securities Exchange Commission (SEC) to list and trade Grayscale’s Spot Hedera Exchange-traded fund (ETF). This filing is the second phase before acknowledgment by the SEC. Once acknowledged, it will be published in the federal register awaiting SEC’s approval. Amidst increased institutional demand for crypto assets, ETFs have become highly popular, and Hedera [HBAR] has seen major support for the next ETF. However, HBAR faces strong bearish sentiments, dipping by 9.18% in 24 hours.
Grayscale HBAR ETF Advances as Nasdaq Submits Filing to SEC
Grayscale’s HBAR ETF has made progress as Nasdaq has submitted a 19b-4 filing to the SEC. The exchange classifies the shares as Commodity-Based Trust Shares, aligning them with regulated investment vehicles like spot Bitcoin (BTC) ETF. This filing is part of a series of efforts to bring Hedera into the regulated financial spotlight. The proposal was submitted under Section 19(b)(1) of the Securities Exchange Act 1934, aiming to perfect the mechanism of a free and open market, protect investors, and facilitate the listing and trading of shares that will enhance competition among market participants.
FTX/Alameda Unstakes 3.03M SOL, Raises Concerns
FTX/Alameda has unstaked 3.03 million Solana (SOL), raising concerns about potential market pressure. Blockchain analytics platform Lookonchain reported that approximately $41.3 million worth of SOL was transferred to multiple crypto wallets. Of these, 24,799 SOL ($3.38M) has been deposited to Binance, liquidating the asset. This development has had a significant trading impact, with a recent surge in price and trading volume suggesting increased market activity.
