US SEC Delays Review of Altcoin Spot ETFs Including Polkadot (DOT) and Hedera (HBAR)

Minseung Kang

Summary

The United States Securities and Exchange Commission (SEC) has announced a delay in the review of cryptocurrency spot ETFs, including Polkadot (DOT) and Hedera (HBAR), until mid-June.
Canary Capital, Grayscale, and Bitwise are proceeding with various ETF applications based on different cryptocurrencies.
This delay indicates that the review of ETFs in the cryptocurrency market is still being conducted cautiously.

The United States Securities and Exchange Commission (SEC) has postponed its decision on the review of major cryptocurrency spot Exchange-Traded Fund (ETF) applications, including Polkadot (DOT) and Hedera (HBAR).

On the 25th (local time), the cryptocurrency-focused media outlet CryptoNews reported, "The SEC has extended the review deadline for the Hedera spot ETF submitted by Canary Capital and the Polkadot ETF conversion application submitted by Grayscale until June 11." The decision on the Bitcoin and Ethereum composite ETF applied for by Bitwise on the New York Stock Exchange has also been delayed until June 10.

The media added, "This delay shows that the review of the cryptocurrency spot ETF market is still being conducted cautiously," and "Currently, there are a total of 72 cryptocurrency-related ETF applications pending with the SEC."

Meanwhile, Canary Capital has submitted various ETF applications, including those for Tron (TRX), Solana (SOL), and Sui (SUI). Grayscale is expanding its ETF product lineup with XRP, Dogecoin (DOGE), Cardano (ADA), Litecoin (LTC), and Avalanche (AVAX). Bitwise has also applied for ETFs based on Dogecoin (DOGE) and Aptos (APT).

HBAR

DOT