SEC delays multiple crypto ETF decisions amid growing application backlog
The post SEC delays multiple crypto ETF decisions amid growing application backlog appeared on BitcoinEthereumNews.com.
The U.S. Securities and Exchange Commission has pushed back decisions on Bitwise’s Bitcoin and Ethereum ETFs as well as Canary Capital’s Hedera ETF, citing the need for more time as it navigates a surge in ETF filings. According to filings dated April 24, the SEC has delayed decisions on Bitwise’s Bitcoin (BTC) and Ethereum (ETH) ETFs as well as well as Canary Capital’s Hedera (HBAR) ETF, with the new deadlines set to June 10 and June 11, respectively. In both filings, the SEC cited the need for additional time to thoroughly review the proposals and consider public comments. This wave of postponements is part of a broader trend, as the SEC grapples with a growing number of crypto ETF applications. Another recent delay involves Grayscale’s application to convert its Polkadot (DOT) Trust into an ETF, with a new deadline now set for June 11. The delays come amid a leadership shift at the SEC, with crypto-friendly Paul Atkins stepping in as the agency’s new Chair. His appointment could mark a turning point in the SEC’s stance on digital asset investment products, potentially paving the way for more crypto ETF approvals down the road. Bloomberg’s analyst James Seyffart has been tracking the growing list of ETF submissions currently awaiting regulatory approval. Among the pending applications are ETFs tied to Solana (SOL), Ripple (XRP), Sui (SUI), Litecoin (LTC), Axelar (AXL), Binance Coin (BNB), Cardano (ADA), Avalanche (AVAX), Dogecoin (DOGE), Aptos (APT), Chainlink (LINK), Bonk (BONK), and even newer memecoins like Pudgy Penguins (PENGU), Official Trump (TRUMP), Melania (MELANIA). Source: Bloomberg In addition to individual token-based ETFs, the SEC is also reviewing proposals for index-style funds that bundle multiple cryptocurrencies together, as well as additional ETFs based on BTC and ETH. Despite the wave of altcoin ETF applications, Balchunas believes that Bitcoin ETFs…
Filed under: News - @ April 25, 2025 1:24 pm