The US Securities and Exchange Commission has extended its timeline for deciding on proposed listed funds (ETFs) bound to Polkadot (DOT) and Hedera (HBar).
According to regulatory registrations placed on 24 April, the SEC pushed the Deadline decision until 11 June for the proposal from Grayscale to convert his Polkadot Trust into a spot ETF and the plan of Canary Capital to list a spot HBar ETF.
The agency also announced that it would delay a decision about the proposed joint Bitcoin (BTC) of Bitwise and Ethereum (ETH) ETF until 10 June.
In both files, the SEC said that it was appropriate to indicate a longer assessment period to make a careful consideration of the proposals and all received public comments possible.
Regulatory
The extensions come when the SEC is confronted with an unprecedented volume of crypto-related archives. From this month, the agency will re-see 72 Digital Asset ETF proposals, including single-asset, dual-asset and multi-asset funds bound to a series of tokens outside of Bitcoin and Ethereum.
The sharp increase in the applications follows last year’s milestone of Spot Bitcoin ETFs in January 2024 and Spot ETFs in July, which opened the door for wider exposure to crypto market by regulated investment vehicles.
The flurry of new files comes in the midst of a remarkable shift in the regulatory position under the Trump administration. Since January, the SEC has returned various enforcement actions against crypto companies and launched a series of public lap tables that are aimed at updating the digital activable policy.
The next round table, planned for Friday, will concentrate on crypto guardianship frameworks, an important topic for institutions that handle customer assets.
The SEC actions are generally seen as a signal of larger openness, although the agency remains careful when evaluating whether new crypto products meet the standards for investor protection.
Safeguard: CryptoSlate has received a subsidy from the Polkadot Foundation to produce content over the Polkadot ecosystem. Although the foundation supports our coverage, we maintain the full editorial independence and control over the content we publish.