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The U.S. Securities and Exchange Commission (SEC) has moved to the approval stage for Grayscale’s investment vehicle based on Hedera (HBAR). This approval marks the beginning of a 21-day public comment period, after which the SEC will decide whether to approve, reject, or continue reviewing the application. The process could have notable effects on market dynamics.
SEC Comment Process
Following the SEC’s approval, relevant market participants and the general public will have the opportunity to provide their opinions during the 21-day period. After this comment process, the regulatory body will reach a final decision regarding the application’s eligibility. This stage is conducted within the SEC’s standard procedural framework.
As part of the application, the investment vehicle created by Grayscale will track the price of Hedera’s native token. Nasdaq has requested SEC approval to list Grayscale Hedera Trust, while BNY Mellon Asset Servicing is expected to act as the manager and transfer agent. Coinbase Custody Trust Company will provide custodial services, while CSC Delaware Trust Company will assume liability responsibilities.
Nasdaq stated that the monitoring-sharing agreement is sufficient for investor protection to ensure market integrity.
Technical Analysis and Market Movements
The price of Hedera tokens has been fluctuating recently. It briefly rose to around $0.25 before experiencing a decline, currently seeking support between $0.18 and $0.20. Among technical indicators, the MACD shows a positive momentum signal while the RSI is at 46.60.
Similarly, it has been reported that Grayscale’s applications for other crypto assets, such as Polkadot, XRP, Dogecoin 
$0.237367, Solana 
$173, and Cardano 
$0.836983, are in the approval process. Other firms like Canary Capital have also made similar applications in the same space.
Public comment processes and the SEC’s previous risk warnings related to crypto products are among the factors that will be meticulously evaluated as the process progresses. The impact of the recently approved Bitcoin 
$103,554 and Ethereum 
$2,489-based investment vehicles is considered in the regulatory body’s approach.
In the evaluation process, technical indicators are among the factors monitored for market movements. The next steps by the institution will be determined in light of public opinions.
