EddieJayonCrypto

 24 Apr 25

tl;dr

The US Securities and Exchange Commission (SEC) has extended its decision deadline to June 11 for Grayscale’s Polkadot Trust spot ETF and Canary Capital’s spot Hedera (HBAR) ETF proposals, and to June 10 for Bitwise’s joint Bitcoin and Ethereum ETF. The extensions allow more time for review and publ...

The US Securities and Exchange Commission (SEC) has extended its review period to June for several exchange-traded funds (ETFs) tied to Polkadot (DOT), Hedera (HBAR), and a joint Bitcoin-Ethereum fund. Specifically, the decision deadline is now June 11 for Grayscale’s Polkadot Trust spot ETF and Canary Capital’s spot Hedera ETF, and June 10 for Bitwise’s joint Bitcoin and Ethereum ETF. These extensions provide additional time for thorough review and public commentary amid a surge of 72 crypto-related ETF proposals currently under consideration.

This spike in filings follows landmark approvals of spot Bitcoin ETFs in January 2024 and spot Ethereum ETFs in July 2023, signaling a notable shift in the SEC’s regulatory approach under the Biden administration. The agency has reduced enforcement actions against crypto firms and initiated public roundtables focused on updating digital asset policies, including critical discussions around crypto custody frameworks for institutional investors.

Despite the increased openness, the SEC is proceeding cautiously to ensure that new crypto investment products fully comply with investor protection standards. These recent regulatory developments reflect the agency’s balancing act between fostering innovation in digital assets and safeguarding market integrity.

The ongoing public roundtables and regulatory reviews underscore the evolving landscape of crypto ETFs, as investors and market participants anticipate broader access to regulated crypto products. The decisions expected in June will further clarify the SEC’s stance and potentially unlock new avenues for crypto market exposure through ETFs tied to a variety of digital assets beyond Bitcoin and Ethereum.

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