Catenaa, Friday, September 12, 2025- The US Securities and Exchange Commission (SEC) has postponed its decision on Nasdaq’s proposal to list the Grayscale Hedera Trust, setting a new deadline of November 12.
The delay coincides with Grayscale updating filings for its Bitcoin Cash and Litecoin trusts, both structured to trade on NYSE Arca.
Grayscale filed a Form S-1 for Hedera Trust, a new product that would trade under the HBAR ticker, contingent on Nasdaq’s pending rule-change request.
Bank of New York Mellon will serve as administrator, while Coinbase is designated custodian and prime broker for the existing Bitcoin Cash and Litecoin trusts. Both updated filings are submitted on Form S-3 as ongoing reporting vehicles.
The delay is part of a broader SEC review, with more than 90 crypto ETF applications, including Solana and XRP-linked products, pending before the Commission.
Earlier extensions have affected Solana ETFs and proposals from Bitwise, 21Shares, Canary Funds, and Marinade Finance. Analysts note that ETF approvals often increase digital asset liquidity and appeal to institutional investors.
Lionel Iruk, managing partner at Empire Legal, said ETF structures provide compliance, custody, and transparency frameworks, broadening appeal beyond crypto-native audiences.
Market participants are closely watching the SEC as decisions on multiple pending ETFs could influence pricing and liquidity for digital assets in the near term.
Grayscale Hedera Trust’s SEC review delayed to November 12; Bitcoin Cash and Litecoin filings updated for NYSE Arca, amid a wave of over 90 pending crypto ETF applications.
