SEC Debates Listing Grayscale's Crypto Hedera Trust on Nasdaq
Published Date: 6/17/2025
Notice
Summary
Nasdaq wants to start trading shares of the Grayscale Hedera Trust (HBAR), a new kind of investment tied to a digital commodity. The SEC is now deciding if this is a good idea and will approve or reject it by June 15, 2025. If approved, investors could buy and sell HBAR shares on Nasdaq, opening up fresh opportunities in the crypto world.
Analyzed Economic Effects
2 provisions identified: 1 benefits, 1 costs, 0 mixed.
Possible Nasdaq Listing of HBAR Shares
If the SEC approves the proposed rule change by June 15, 2025, Nasdaq could list and trade shares of the Grayscale Hedera Trust (HBAR). That would let investors who hold investments buy and sell HBAR shares on Nasdaq like other exchange-traded products.
HBAR Shares Track Token Value Minus Fees
The Trust's shares are intended to reflect the U.S. dollar value of the Hedera Network native token (HBAR) as measured by the CoinDesk HBAR reference Index at 4:00 p.m. New York time each business day, minus the Trust's expenses and liabilities. The Trust will hold only HBAR and create or redeem shares in cash in blocks of 10,000 Shares, and sponsors of the Trust change on May 3, 2025 as described in the filing.
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