SEC Sets Nov 12, 2025 Deadline for Grayscale HBAR ETF Decision

The U.S. Securities and Exchange Commission (SEC) has set November 12, 2025, as the final deadline for a decision on Grayscale’s spot HBAR ETF proposal. This marks the last possible extension under Section 19(b)(2) of the Securities Exchange Act. Grayscale filed its S-1 registration in February, and the SEC has delayed decisions to assess surveillance, liquidity, and volatility controls. Approval would launch the first regulated spot HBAR ETF in the U.S., giving investors direct exposure to Hedera’s native token, HBAR. A rejection could signal persistent regulatory caution despite 2024 approvals for Bitcoin and Ethereum ETFs. Canary Capital’s spot HBAR ETF faces a November 8 decision, and at least six HBAR ETF filings, including REX-Osprey and KraneShares, remain under review. Hedera has moved 250 million HBAR into a staking rewards account as a pre-ETF strategy. The SEC’s decisions will set a precedent for more than 90 crypto-related ETFs under consideration, including XRP, DOGE, and LTC funds.