TLDR:Grayscale’s HBAR ETF filing shows “Withdrawn on 11/3/2025” in the SEC database.The withdrawal ends SEC review ahead of the expected November 12 decision date.No official statements from Grayscale or Nasdaq have explained the sudden retraction.HBAR’s ETF path now depends on whether Grayscale chooses to reapply in the future.Grayscale’s bid to launch an HBAR ETF appears to have ended abruptly. According to the SEC’s filing database, the proposal tied to Nasdaq submission SR-NASDAQ-2025-021 has been withdrawn. The filing, which would have allowed Nasdaq to list the Grayscale Hedera Trust, now displays a withdrawal notice dated November 3, 2025. That move effectively eliminates any pending decision on the product before the expected November 12 review deadline.Grayscale Withdraws HBAR ETF Filing Before SEC ReviewAccording to market watcher @HBAR_allin, the SEC record shows that the ETF application was pulled well before the review window closed. That means the regulator no longer has an active submission to approve or deny, removing the possibility of any ruling this cycle. The ETF’s withdrawal pauses Grayscale’s attempt to bring a Hedera-based exchange-traded fund to the U.S. market.No official explanation has been released by Grayscale or Nasdaq. However, the removal from the public docket confirms the listing process is no longer active. The withdrawal status, marked “Withdrawn on 11/3/2025,” leaves no ambiguity about the ETF’s current state.According to SEC data, this step ends all immediate proceedings for a Hedera-linked product under the proposed rule change. Unless Grayscale resubmits, the ETF path for HBAR remains closed for now. Market participants who anticipated an approval date today are instead left with no decision to analyze.HBAR supporters on social platforms expressed disappointment, noting that no statement has clarified the reasoning. Several observers tracking the filing through the SEC’s system highlighted that the withdrawal came silently, with no press update. The next step, if any, would require a full reapplication process. DISASTER UPDATE It looks like the Grayscale HBAR ETF has been withdrawn.According to the official SEC filing database, the submission SR-NASDAQ-2025-021 the rule change required for Nasdaq to list the Grayscale Hedera Trust now shows a clear notice:“Withdrawn on… https://t.co/Qvz5oLm1WO pic.twitter.com/meyRNXQMj5— HBAR all in ༼ つ ◕_◕༽つ━☆ﾟ.*･｡ﾟ (@HBAR_allin) November 13, 2025ETF Prospects for Hedera Now UncertainThe withdrawal represents a notable reversal after weeks of anticipation across digital asset forums. Grayscale’s proposed HBAR ETF had been viewed as a potential milestone for Hedera’s broader institutional reach. Its absence now raises uncertainty about when or if another submission could follow.Data shared by community trackers on X confirmed that no revised listing attempt appears in Nasdaq’s database. Analysts monitoring ETF pipelines noted that withdrawals like this typically reflect internal strategic changes rather than regulatory pressure. Still, the decision halts momentum that had been building around the token’s market visibility.Source: XThe SEC’s database update was first noted by independent monitors who follow live ETF filings. According to those updates, all records tied to SR-NASDAQ-2025-021 are now inactive. For now, investors will need to await an official response from Grayscale or Nasdaq to understand the reasoning behind the move.HBAR’strading activity shows price swings as at press time. The token has dropped over about 7% over the past day to trade at $0.1619 as of this writing. Market attention remains on whether the asset manager will resubmit a similar proposal in the coming months.The post Was the Grayscale HBAR ETF Pulled Before Launch? appeared first on Blockonomi.