The US Securities and Alternate Fee (SEC) delayed selections on the Bitwise Dogecoin ETF and the Grayscale Hedera ETF, conserving each functions underneath evaluation till November 12.
On Tuesday, the SEC pushed again its deadline on NYSE Arca’s proposal to checklist the Bitwise Dogecoin ETF. The applying was first filed in March and revealed within the Federal Register on March 17, starting the statutory evaluation interval.
That very same day, the company additionally prolonged its evaluation of Grayscale’s utility to checklist the Hedera ETF, setting the identical November deadline.
Grayscale up to date filings for its long-standing Litecoin and Bitcoin Money trusts, looking for to transform them from trusts into ETFs. Transferring the trusts to a nationwide trade would permit every day share creations and redemptions, conserving costs nearer to web asset worth and decreasing the steep premiums and reductions seen in over-the-counter (OTC) buying and selling.
The corporate set the precedent in 2024 when it transformed the Grayscale Bitcoin Belief (GBTC) into the primary US spot Bitcoin ETF after a courtroom battle with the SEC. It’s now seeking to apply the identical mannequin to Bitcoin Money (BCH) and Litecoin (LTC).
Associated: How excessive can DOGE worth go when a Dogecoin ETF is permitted?
SEC delays spotlight unsure path for altcoin ETFs
The surge of altcoin ETF functions in 2025 has left the SEC with a rising backlog.
As of July 31, not less than 31 altcoin spot-ETF functions had been filed within the first half of 2025, together with proposals for XRP, Dogecoin, Solana, Litecoin, Avalanche and BNB.
As of August 29, not less than 92 crypto-related ETF merchandise have been awaiting SEC selections. Notably, institutional curiosity is very excessive for Solana (SOL), with eight functions, and XRP, with seven functions in line.
Typically, the SEC has opted to make use of the total size of its evaluation durations, repeatedly extending deadlines reasonably than issuing early approvals or rejections.
In August, the SEC postponed a number of crypto ETF filings, together with NYSE Arca’s Reality Social Bitcoin and Ethereum ETF to Oct. 8, the 21Shares and Bitwise Solana ETFs to Oct. 16 and the 21Shares Core XRP Belief to Oct. 19.
On Aug. 25, the company prolonged its evaluation of Cboe BZX’s proposal to checklist the WisdomTree XRP Fund, setting Oct. 24 as the brand new deadline, and the identical day delayed its resolution on the Canary PENGU ETF to Oct. 12.
Journal: SEC’s U-turn on crypto leaves key questions unanswered
