Grayscale Hedera Spot ETF Filing Sparks 120% HBAR Surge
Grayscale Investments has filed a trust registration in Delaware for a Hedera (HBAR) spot ETF, mirroring its approach with Cardano (ADA) and signaling plans to petition the SEC once market conditions align. The Hedera spot ETF filing lays the legal groundwork for a regulated investment vehicle, potentially opening HBAR to traditional portfolios and institutional investors. On-chain and market data reveal growing institutional interest in Hedera’s network.
Technically, HBAR is forming a bullish pennant pattern after a rally above $0.24. A decisive close above $0.31 could project a 120% move toward $0.53. However, short-term indicators like MACD and RSI reflect weakening momentum, while the Balance of Power (BOP) suggests buyers are regaining control. Overall, the Hedera spot ETF filing boosts long-term bullish prospects for HBAR by enhancing regulatory readiness and broadening investor access, despite near-term consolidation risk.
Bullish
The trust filing for a Hedera spot ETF by Grayscale marks a crucial regulatory milestone, akin to its prior Cardano ETF preparation, and underscores rising institutional interest. Establishing a regulated HBAR vehicle typically broadens investor access and can trigger strong price rallies. While short-term momentum indicators (MACD, RSI) suggest consolidation risk, the bullish pennant setup and the potential 120% upside projection reinforce a positive outlook. Historically, similar trust filings (e.g., ADA) preceded substantive price gains. Thus, this development is bullish for both short- and long-term market sentiment.