SEC Delays its Decision on HBAR and Polkadot ETFs

Reading Time: < 1 minute

The US Securities and Exchange Commission (SEC) has extended its timeline for deciding on proposed exchange-traded funds (ETFs) related to Polkadot (DOT) and Hedera (HBAR).

Per regulatory filings posted on April 24, the SEC has postponed the decision deadline to June 11 for Grayscale’s proposal to convert its Polkadot Trust into a spot ETF and Canary Capital’s plan to list a spot HBAR ETF. Additionally, the decision on Bitwise’s proposed Bitcoin (BTC) and Ethereum (ETH) ETF has been delayed until June 10.

In both filings, the SEC stated that a longer review period is appropriate to allow for careful consideration of the proposals and any public comments.

With the SEC handling an unprecedented number of crypto-related filings, including 72 digital asset ETF proposals for single-asset, dual-asset, and multi-asset funds, the extensions come amid a significant regulatory bottleneck.