The SEC set a November 12 deadline to decide on Nasdaq’s request to list the Grayscale Hedera Trust; the decision follows Grayscale’s simultaneous S-1 and S-3 filings and adds to a cluster of ETF-related rule-change reviews before several fall deadlines.
SEC sets Nov. 12 deadline for Grayscale Hedera Trust decision
Grayscale filed an S-1 for the Hedera Trust (ticker HBAR) and S-3 updates for Bitcoin Cash and Litecoin trusts.
Bank of New York Mellon is administrator; Coinbase is custodian and prime broker; proposed listing on NYSE Arca.
Grayscale Hedera Trust SEC deadline: November 12. Read the update on filings, structure, and implications — stay informed with COINOTAG coverage.
What is the SEC deadline for Grayscale Hedera Trust?
The SEC deadline for the Grayscale Hedera Trust is November 12, set by an SEC order published alongside Grayscale’s filings. The deadline applies to Nasdaq’s rule-change request to permit listing of the proposed HBAR trust and follows Grayscale’s parallel S-1 registration for Hedera.
How is the Grayscale Hedera Trust structured and who are the service providers?
The proposed Grayscale Hedera Trust names Bank of New York Mellon as administrator and Coinbase as custodian and prime broker. Both the Hedera Trust and Grayscale’s updated Bitcoin Cash and Litecoin trust filings indicate a planned listing on NYSE Arca, with the Hedera product filing on Form S-1 and the others on Form S-3.
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| Vehicle | SEC Form | Administrator / Custodian | Proposed Listing |
|---|---|---|---|
| Hedera Trust (HBAR) | Form S-1 | Bank of New York Mellon; Coinbase | NYSE Arca (pending Nasdaq rule-change) |
| Bitcoin Cash Trust | Form S-3 | Bank of New York Mellon; Coinbase | NYSE Arca |
| Litecoin Trust | Form S-3 | Bank of New York Mellon; Coinbase | NYSE Arca |
How does the SEC review timeline work for exchange rule changes?
Under U.S. securities law, the SEC typically has 180 days to act on a proposed exchange rule change and may add a 60-day extension. The agency issues orders where it sets specific review deadlines and may request amendments or consider public comments before a final determination.
Why does this decision matter to markets and investors?
ETF-wrapped or trust-wrapped crypto products often attract institutional capital due to compliance, custody, and transparency frameworks. Lionel Iruk, managing partner at Empire Legal, told press outlets that ETF-style structures can unlock liquidity and broaden investor participation by meeting institutional standards.
Frequently Asked Questions
What form did Grayscale use to register the Hedera Trust?
Grayscale filed the Hedera Trust on Form S-1, an initial registration that outlines the new product and conditions for trading under ticker HBAR, subject to Nasdaq’s pending rule-change approval.
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Yes. The SEC commonly uses statutory extensions — the standard 180-day review can be followed by a 60-day extension — to consider comments, amendments, or novel market-structure issues raised by filings.
The SEC’s November 12 deadline for the Grayscale Hedera Trust is a key milestone amid a crowded slate of crypto ETF and trust applications. COINOTAG will monitor formal SEC orders, Nasdaq rule-change outcomes, and Grayscale’s filings for developments that affect listing prospects and market access.
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