- The SEC delayed decisions on ETF applications for Polkadot, Hedera, and a Bitcoin-Ethereum combo fund, with new deadlines set for June 10–11, as part of a flood of 72 crypto ETF filings waiting for review.
- Issuers like Canary, Grayscale, and Bitwise are aggressively expanding their proposals, aiming to launch ETFs for assets like Solana, XRP, Dogecoin, Tron, and Sui, alongside staking and options-based products.
- Despite the delays, market sentiment remains positive, with Hedera up 5% and Polkadot up nearly 7% over the past day, reflecting steady investor interest.
The U.S. Securities and Exchange Commission (SEC) is tapping the brakes again.
In its latest move, the SEC has delayed decisions on several key applications that would allow new exchange-traded funds (ETFs) tracking Polkadot, Hedera, and a combo fund based on both Bitcoin and Ethereum. According to filings posted Thursday, they’ve pushed deadlines out to June 10 and 11.
Yup—more waiting.
Here’s What’s on the Table
- Nasdaq Exchange filed for two biggies:
- Canary HBAR ETF
- Grayscale Polkadot Trust conversion
- New York Stock Exchange is gunning for:
- Bitwise Bitcoin & Ethereum ETF
The SEC now has until June 11 to give a thumbs-up or thumbs-down on the Nasdaq requests, and June 10 for the NYSE filing.
Meanwhile, issuers like Canary Capital, Grayscale Investments, and Bitwise are stacking applications left and right. Everyone’s trying to ride the wave kicked off by last year’s massive success with Bitcoin and Ethereum spot ETFs.
Right now? There are 72 crypto-focused ETFs waiting for a decision.
Seventy-two. Wild.
More ETF Madness Incoming
And the filings keep coming.
Just last week, Canary threw in an application for a Tron (TRX) ETF, promising staking rewards too. They’ve also got proposals cooking for Solana, PENGU, and Sui spot ETFs.
Grayscale’s not sitting still either—they’ve applied for ETFs tracking Solana, Cardano, XRP, Dogecoin, Litecoin, and Avalanche.
Bitwise? They’re chasing ETFs for DOGE, Aptos, and a few others.
Even traditional finance players are jumping into the ETF race—applying for everything from options-based productsto equity funds tied to blockchain companies.
“Gonna be a wild year,” said Bloomberg Senior ETF Analyst Eric Balchunas on X.
(Understatement of the year, probably.)
AUM Snapshot: Who’s Leading So Far?
- Grayscale Bitcoin Trust (GBTC): nearly $18 billion under management—#2 among the spot Bitcoin ETFs approved last year.
- Bitwise Bitcoin ETF: about $3.6 billion AUM—holding fifth place.
Those Bitcoin ETFs, collectively, now oversee around $100 billion, and they’ve become some of the fastest-growing products in the entire 32-year history of the ETF industry. No wonder everyone’s rushing to get more crypto products live.
Quick Market Pulse
- Hedera (HBAR): up about 5% today
- Polkadot (DOT): jumping nearly 7% in the past 24 hours
So while the SEC drags its feet (again), the crypto market’s keeping things interestin
