SEC recognizes the presentation of Nasdaq for the ETF Hbar Trust of Grayscale

The United States Stock Exchange and Securities Commission has officially recognized Nasdaq's proposal to enumerate and exchange sharescale hedera trust actions.

According to March 11 northForestThe SEC has recognized the 19B-4 presentation of Nasdaq for a basic products based on Hbar, whose objective is to provide investors regulated to the native token of the Hedera network.

This product -based trust structure has HBAR directly, with actions that represent the fractional property of the Hbar of the Trust. However, unlike an ETF spot, it does not allow direct reimbursements, which means that the actions can operate with a premium or discount to the actual value of the asset.

Bny Mellon Asset Servicing is ready to supervise the tasks of the administration and the transfer agent for the trust, while CSC Delaware Trust Company will act as a trustee, and Coinbase Custody Trust Company will administer asset custody.

With this recognition, the SEC has opened a period of public comments of 21 days, which allows industry participants and the public to evaluate the proposal. After this phase, the regulator will decide whether to approve, reject or extend its review process.

Hbar responded positively to development, winning more than 7% in the last 24 hours

Grayscale and Canary Capital are currently the only asset administrators looking for ETF Hbar.

While the SEC recognized the presentation of Nasdaq for the Hedera Trust of the gray scale, on the same day, it retreated its decision in several ETF of Altcoin, including the ETF XRP of Grayscale and the point of Solana Solana de Cboe Bzx Exchange, extending the revision period until May.

However, Bloomberg Etf analyst James Seyffart shrugged, describing him as standard procedure instead of a cause of concern.

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As previously reported by crypto.News, the SEC has flooded with ETF presentations after Trump's election and the resignation of former sec president, Gary Gensler.

The latest incorporation to this wave is the ETF of Bitwise bitcoin standard corporations, announced on March 11. The fund will track companies that are quoted in the stock market that have at least 1,000 btc in their treasure bonds, offering exposure to investors to companies that accumulate bitcoin.