The U.S. Securities and Exchange Commission (SEC) has once again postponed its decision regarding the applications from Grayscale Investments and Canary Capital to launch exchange-traded funds (ETFs) based on altcoins — Polkadot (DOT) and Hedera (HBAR). This marks the third such delay since the beginning of 2025.
This is reported by Business • Media
According to reports, the applications for the creation of the “Grayscale Polkadot Trust” and the “Canary HBAR ETF” were submitted in February and registered in March 2025. Initially, the regulator was expected to make a decision by April 27, but due to the need for additional time to review the proposed rule changes, the decision date has been postponed. The next interim deadline is June 11, 2025.
Market Reaction and Regulatory Outlook
Overall, the market’s reaction to this news has been subdued. Assets have increased in value on a weekly chart — DOT rose by 17.9%, while HBAR increased by 22.17%. Previously, the SEC had also delayed the consideration of other applications for crypto funds, particularly those that involve the inclusion of staking in the structure of approved ETFs.
Expectations for Change Following New Leadership Appointment
Experts predict that with the arrival of the new SEC chair, Paul Atkins, the situation surrounding crypto funds may change. However, it is too early to expect radical decisions. According to Bloomberg Intelligence analyst Eric Balchunas, the regulator is reviewing over 70 applications simultaneously, so the decision-making process may still take a considerable amount of time.