Catenaa, Monday, June 16, 2025- The U.S. Securities and Exchange Commission has postponed decisions on a wave of spot altcoin ETF proposals, including filings for Dogecoin, Hedera, and Avalanche, marking another delay amid the agency’s ongoing reassessment of crypto regulation.
On Thursday, the SEC said it would not yet move forward on the Bitwise Dogecoin ETF, Grayscale’s Hedera Trust, and the VanEck Avalanche ETF. The delays come as part of the agency’s request for public comment, a procedural step that does not indicate a final stance.
“There are dozens of crypto ETF applications pending. We welcome public input before any decisions,” the SEC noted in its filing.
The moves arrive just two days after the SEC asked Solana ETF issuers to update their S-1 filings, a sign approval may be imminent. Bloomberg’s Eric Balchunas projected a spot Solana ETF could be approved within four months.
The ETF logjam continues under the leadership of new SEC Chairman Paul Atkins, who replaced Gary Gensler in April. Atkins has pledged a more open stance on digital assets but has yet to deliver sweeping changes.
Market participants, including VanEck and 21Shares, criticized the SEC’s departure from a first-to-file approval practice. In a joint letter, they argued this shift undermines fairness and competitiveness in the ETF market.
“The Commission’s inconsistency creates market inefficiencies and penalizes innovation,” the firms wrote.
ETF sponsors say that the SEC’s cautious approach continues to frustrate them but they are hoping to capitalize on growing investor demand for crypto exposure.
