Catenaa, Friday, April 25, 2025-The US Securities and Exchange Commission (SEC) has postponed decisions on multiple cryptocurrency exchange-traded fund proposals, including those tied to Polkadot, Hedera and a dual Bitcoin-Ethereum fund from Bitwise, the agency announced Thursday.
According to regulatory filings, the SEC will now decide by June 11 on 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. A separate decision on the Bitwise Bitcoin and Ethereum ETF is delayed until June 10.
“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 the Hedera filing.
The delays come as the agency weighs a wave of crypto-related filings under what industry insiders are calling a more crypto-accommodating SEC. Since President Donald Trump returned to office in January, the regulator has hosted industry roundtables, dropped several enforcement cases, and signaled broader receptivity toward digital assets.
The next SEC roundtable is scheduled for Friday and will focus on crypto custody practices, a key issue for ETF viability and investor protection.
Under former SEC Chair Gary Gensler, the agency approved the first spot Bitcoin ETFs in January 2024, followed by spot Ethereum ETFs in July after a pivotal court ruling involving Grayscale.
Crypto advocates view these latest delays as procedural, rather than hostile, as more firms seek listings amid growing investor demand for diversified digital asset exposure.
