Regulatory developments in the crypto currency market continue unabated. The fact that Spot ETF applications for Dogecoin and Hedera (HBAR) came to the agenda created excitement among investors. Recently, the increasing interest in crypto ETFs enables both breast coins and large blockchain projects to reach a wider audience.
Official application for Dogecoin
While the interest in crypto investment vehicles increased, the NYSE Arca Exchange has made an official application to list the Bitwise Dogecoin ETF. The 19B-4 application on March 3 can create a new alternative for investors who want to be directly exposed to Dogecoin. If the US is approved by the Securities and the Stock Exchange Commission (SEC), investors will be able to trade through ETF without directing Dogecoin. In this process, while working as a Coinbase storage service provider, Bank of New York Mellon will undertake cash management and administration transactions.
The probability of approval of Dogecoin ETF is increasing. The estimation platform Polymarket considers the probability of approval as 67 %, while Bloomberg analysts predict that this possibility is 75 %until 2025. This reflects an increasing confidence that regulatory institutions can show flexibility in their attitudes towards crypto -based investment instruments. However, it remains unclear the direction of the SEC’s final decision.
Nasdaq move for Hedera attracted attention
In addition to the application of Dogecoin ETF, Nasdaq has applied to list Grayscale Hedera Trust. This fund will follow the price of the local tokens of HELARA Blockchain Hbar. In addition, SEC evaluates similar ETF applications for Cardano (Ada), Solana (Left), Polkadot (DOT), Litecoin (LTC) and XRP. These developments show that both Memecoins and large Altcoins are more accepted as arranged investment instruments. The American asset management company Grayscale Investments applied to the US Securities and Stock Exchange Commission (SEC) HELA ETF. Nasdaq supported the company’s effort to expand the company’s crypto product range by applying for 19b-4 on behalf of Grayscale. Grayscale plans to list this ETF, which follows the price of HBAR. If approved, investors will be able to enter the market through this ETF without directing the HBAR assets.
Grayscale’s leading role in the ETF field was further reinforced by his recent Bitcoin and Ethereum ETF applications. The company triggered the process that enabled Bitcoin ETFs to be approved after the case against the SEC. After the Spot Bitcoin ETFs approved in January 2024, Ethereum ETFs came up. Grayscale now continues to apply ETF for large Altcoins such as Cardano, Solana and XRP.
SEC’s attitude towards crypto ETFs becomes increasingly flexible. In addition to Grayscale, companies such as Rex-Oos and Tuttle Capital have applied for Dogecoin ETF. Among the popular memecoins, ETF applications were made for tokens such as Trump, Melania and Bonk. Bloomberg, XRP, Solana and Litecoin ETFs evaluate the possibility of approval, while uncertainty about Memecoin ETFs continues. However, the recent conclusion of SEC’s case with Kraken gives signals of a more moderate approach to crypto markets. However, it is not yet clear whether this will turn into more ETF approval.
