"Nasdaq's SEC Filing Boosts Hedera ETF Hopes, Price Surges 17.5% in a Week"

Nasdaq's filing with the U.S. Securities and Exchange Commission (SEC) to list and trade Grayscale's spot Hedera ETF has sparked significant excitement in the cryptocurrency market, particularly for Hedera. In the past seven days, the Hedera price has surged by 17.5%, and in the last hour alone, the market has grown by around 0.5%. Let's delve deeper into the implications of this development.

On Monday, Nasdaq filed a 19b-4 form with the SEC to list and trade the spot HBAR ETF of Grayscale. For an ETF to be traded on a major stock exchange, it requires SEC approval. A 19b-4 form is a crucial regulatory document that facilitates the introduction of new investment products like ETFs into the stock market. Once the SEC acknowledges the filing, the approval process begins, making this step a significant milestone.

This is not the first time Nasdaq has approached the SEC to seek approval for a spot Hedera ETF. Previously, a 19b-4 form was submitted for the spot HBAR ETF of Canary Capital. Notably, renowned ETF analyst Eric Balchunas recently predicted that Hedera and Litecoin ETFs have the best chance of winning the SEC's approval compared to other Altcoin ETFs.

Hedera is a public network where anyone can build and use applications. Unlike traditional blockchains, Hedera uses a technology called "hashgraph," which is designed to be faster, more secure, and more efficient. According to Jonathan Dotan, the founder of EQTYLAB, "Hedera's enterprise-grade infrastructure, backed by a Council of global leaders like Dell Technologies, sets it apart from other blockchains by providing the scalability and security essential for bringing Verifiable Compute to market. Its visionary leadership team has long shaped the network to meet real-world business needs, positioning it as a trusted platform for enterprise adoption."

The Hedera market has seen a drop of 18.7% in the last 30 days but has experienced a rise of 17.5% in the last seven days. In the last hour alone, the market has surged by over 0.5%. The total market cap of HBAR is $9,543,646,221, with a