Grayscale's HBAR ETF Proposal Withdrawn From SEC Review
Grayscale's proposal to launch an HBAR-linked ETF appears to have been withdrawn from the SEC review docket as of Nov. 13, 2025, effectively pauses expectations for a Hedera-based exchange product. The filing's removal interrupts a pathway many institutional investors were monitoring for regulated exposure to HBAR and comes amid ongoing scrutiny of crypto ETF applications.
The development is a setback for HBAR sentiment and delays a clear route for spot-backed institutional flows; HBAR may face short-term selling pressure as market participants reassess timelines. Grayscale has not issued an immediate comment, and withdrawals can be procedural — for example to revise terms or refile — rather than a final abandonment. Still, the move highlights persistent regulatory uncertainty; traders and holders should watch for a formal update, an amended filing, or a resubmission that could restore momentum.