- U.S. SEC delays Hedera ETF approval, affecting multiple crypto ETFs.
- Review deadline extended to June, impacting market sentiment.
- Polkadot and other ETFs also postponed amid crypto-friendly shifts.
The U.S. Securities and Exchange Commission (SEC) has postponed its decision on Grayscale’s Hedera spot ETF approval, affecting multiple crypto ETFs. The extension, pushing the deadline to June 2025, impacts assets like Hedera, Polkadot, Bitcoin, and Ethereum.
SEC Extends ETF Decisions to June 2025
The delay follows the SEC’s historical practice of extending crypto ETF reviews, as indicated in Rule filing by Nasdaq, SEC document 34-102923. While similar postponements are common, the approval of spot Bitcoin and Ethereum ETFs previously set positive expectations within the crypto industry.
Industry Prepared for Volatility Amidst SEC’s Latest Moves
The SEC’s recent decision to delay Grayscale’s Hedera spot ETF came from ongoing evaluations. A similar postponement affects ETFs like Polkadot, Bitcoin, and Ethereum. Grayscale and Canary, entities behind these applications, now face potential impacts on their market strategies, a point also discussed by Eric Balchunas. This postponement aligns with the SEC’s trend of extending review periods, contributing to uncertainty among investors. Institutional players are closely monitoring developments, particularly in light of the SEC’s notable approval of Bitcoin ETFs in 2024.
Market reactions have emerged from this delay. No major statements came from industry leaders as the postponements mirror previous regulatory patterns. Community sentiment, while cautious, reflects patience given the SEC’s prior approvals for other crypto ETFs.
Historical Context, Price Data, and Expert Analysis
Did you know? Historically, delays in ETF approvals have often led to increased market volatility but can also drive innovation and acceptance in the crypto space.
CoinMarketCap reports Hedera’s current price is $0.19 with a market cap of formatNumber(7880790696, 2). The 24-hour trading volume has seen a decline of 41.26%. Recent price changes for Hedera have shown varied trends, with a notable 39.66% decrease over 90 days.
The Coincu research team suggests that SEC’s deferment could influence investor confidence but may foster positive regulatory engagements in the long term. Historically, such delays lead to volatility but also eventually drive innovation and market acceptance of crypto ETFs.
Source: https://coincu.com/334931-sec-grayscale-hedera-spot-etf-delay/