Jakarta, Pintu News – The United States financial market will soon witness an important decision from the U.S. Securities and Exchange Commission (SEC) regarding the launch of an Exchange-Traded Fund (ETF) based on Hedera (HBAR).
November 12, 2025 has been set as the final deadline for the SEC to approve or reject the proposal from Nasdaq to list and trade Grayscale Hedera Trust.
Grayscale first submitted its Hedera ETF (HBAR) proposal on February 28, following Nasdaq Rule 5711(d) relating to commodity-based stock trusts. The review process began on June 12 and has been postponed several times, most recently to September 9. The SEC has extended this review period several times, indicating a very cautious approach to ETFs based on altcoins.
Grayscale has also filed a Form S-1 describing the structure of a trust that will hold HBAR and follow its spot price, less fees and liabilities. The SEC’s cautious approach to altcoin ETFs is reflected in this delay.
SEC officials stated that more research is needed on surveillance systems, volatility, and liquidity. Given Hedera’s adoption by companies and compliance with ISO 20022, analysts now estimate the chances of approval at 60-80% by the end of the year.
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The outlook for the Hedera ETF coincides with the growing number of crypto fund applications. The SEC’s final decision on Canary Capital’s HBAR spot ETF scheduled for November 8, four days before Grayscale’s decision, could determine the direction of the next decision. In recent weeks, Hedera has made a strategic move by transferring 250 million HBAR to their staking reward account, a pre-ETF strategy to activate yield and lock in supply.
The company has also signaled about “major developments” that will happen throughout November. Currently, there are at least six ETF filings in the US related to HBAR, including from REX-Osprey and KraneShares, as institutional demand for regulated crypto products grows.
On-chain metrics show strong network activity and corporate use cases in tokenization, while discussions on X suggest that this SEC decision window is considered a key test for altcoin ETF adoption.
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With more than 90 crypto-related ETF filings under review, including those for Ripple (XRP), Dogecoin (DOGE) and Litecoin (LTC), the SEC’s decision this November could define the next phase of institutional crypto integration. This decision is not only important for Grayscale and Canary Capital, but also for the entire crypto ecosystem that is looking forward to regulatory clarity and more diverse investment products.
Global crypto markets await this decision with great anticipation, as it will send a strong signal about the readiness of US regulators to accommodate this fast-growing financial innovation. The decision will have a lasting impact on the way institutions and individual investors interact with crypto assets.
With the SEC decision deadline approaching, global markets are waiting expectantly. This decision will not only decide the fate of the Hedera ETF (HBAR) but will also provide a new direction in the regulation of crypto-based financial products in the United States. Investors and market watchers are now fixing their eyes on these critical dates, looking forward to a new era in regulated crypto investments.
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