The US Securities and Exchange Commission (SEC) delayed choices on the Bitwise Dogecoin ETF and the Grayscale Hedera ETF, preserving each purposes below assessment till November 12.
On Tuesday, the SEC pushed again its deadline on NYSE Arca’s proposal to checklist the Bitwise Dogecoin ETF. The utility was first filed in March and revealed within the Federal Register on March 17, starting the statutory assessment interval.
That identical day, the company additionally prolonged its assessment 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 Cash trusts, in search of to transform them from trusts into ETFs. Moving the trusts to a nationwide trade would enable day by day share creations and redemptions, preserving costs nearer to internet asset worth and decreasing the steep premiums and reductions seen in over-the-counter (OTC) buying and selling.
The firm set the precedent in 2024 when it transformed the Grayscale Bitcoin Trust (GBTC) into the primary US spot Bitcoin ETF after a court docket battle with the SEC. It is now seeking to apply the identical mannequin to Bitcoin Cash (BCH) and Litecoin (LTC).
Related: How excessive can DOGE worth go when a Dogecoin ETF is authorised?
SEC delays spotlight unsure path for altcoin ETFs
The surge of altcoin ETF purposes in 2025 has left the SEC with a rising backlog.
As of July 31, a minimum of 31 altcoin spot-ETF purposes had been filed within the first half of 2025, together with proposals for XRP, Dogecoin, Solana, Litecoin, Avalanche and BNB.
As of August 29, a minimum of 92 crypto-related ETF merchandise have been awaiting SEC choices. Notably, institutional curiosity is very excessive for Solana (SOL), with eight purposes, and XRP, with seven purposes in line.
In most instances, the SEC has opted to make use of the total size of its assessment intervals, repeatedly extending deadlines fairly than issuing early approvals or rejections.
In August, the SEC postponed a number of crypto ETF filings, together with NYSE Arca’s Truth Social Bitcoin and Ethereum ETF to Oct. 8, the 21Shares and Bitwise Solana ETFs to Oct. 16 and the 21Shares Core XRP Trust to Oct. 19.
On Aug. 25, the company prolonged its assessment 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 choice on the Canary PENGU ETF to Oct. 12.
Magazine: SEC’s U-turn on crypto leaves key questions unanswered
