The U.S. Securities and Exchange Commission (SEC) has established November 12, 2025, as the final deadline for its decision on the Grayscale Hedera Trust, a spot HBAR ETF proposed for listing on Nasdaq. This deadline is fixed under Section 19(b)(2) of the Securities Exchange Act and cannot be extended. Additionally, a decision on Canary Capital's HBAR spot ETF is anticipated by November 8, which could impact the SEC's subsequent rulings on similar products.