SEC postpones ETF decisions for Polkadot, Hedera and Bitwise until June
The U.S. Securities and Exchange Commission (SEC) has postponed decisions on several cryptocurrency exchange-traded funds (ETFs) until June, citing the need for more time to review the issuers’ proposals.
Following President Donald Trump's return to the White House in January and his indication of a shift in U.S. crypto policy, the SEC received a wave of new ETF applications tied to altcoins. While decisions on some of these applications were expected this spring, clarity has been delayed as new SEC Chairman Paul Atkins and his team focus on reviewing cases initiated by predecessors, regularly hosting policy roundtables, and shaping a new vision for the U.S. crypto landscape.
"The Commission finds it appropriate to designate a longer period... so that it has sufficient time to consider the proposed rule change and the issues raised therein," the SEC wrote in a document related to Hedera.
Minor delay
According to regulatory documents, the SEC must now make a decision by June 10 on the approval of the Bitwise Bitcoin and Ethereum ETF, and by June 11, decide whether to approve Grayscale’s proposal to convert its Polkadot Trust into a spot ETF and Canary’s proposal to list a Hedera-based ETF.
Neither Polkadot nor Hedera reacted strongly to the delay in ETF approval from the SEC.
On Friday, Polkadot (DOT) rose 7.5%, trading at $4.30 at the time of writing, according to CoinMarketCap.
Price dynamics of HBAR on April 25, 2025. Source: Trading View
Hedera (HBAR) performed even better, gaining over 10% in the past 24 hours and nearing the $0.20 mark.
As we wrote, twelve applications for launching exchange-traded funds (ETFs) based on XRP, the native cryptocurrency of Ripple, are currently under official review by the U.S. Securities and Exchange Commission (SEC).
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