Sign Up on MEXC
Highlights
- The US SEC has delayed its decision on Grayscale's Hedera ETF application ahead of its June 15 deadline.
- The securities watchdog is calling for additional comments from the public over the ETF application.
- Approval odds for crypto spot ETFs in 2025 have reached record highs.
The US SEC has reportedly delayed its decision on Grayscale’s application for a spot Hedera ETF, joining a slew of other ETF applications awaiting approval. Investors anticipate a wave of ETF approvals in the coming months.
US SEC Delays Grayscale Spot Hedera ETF Decision
According to an SEC statement, the securities watchdog is holding back its decision to either approve or reject Grayscale’s Hedera ETF filing. Per the statement, the delayed decision comes ahead of the second deadline on June 15, with the SEC designating a longer time to review the application.
Rather than giving a clear decision, the SEC is instituting proceedings, using the additional time to seek public comments on Grayscale’s filing. Particularly, the SEC wants interested parties to submit comments on the suitability of an HBAR ETF while identifying any areas of concern.
“Institution of proceedings does not indicate that the Commission has reached any conclusion with respect to any of the issues involved,” said the SEC. “Rather, the Commission seeks and encourages interested persons to provide comments on the proposed rule change.”
Early in the week, the SEC delayed Canary’s Hedera ETF application for the second time, foreshadowing Grayscale’s decision delay. The SEC has to give a final decision on both Hedera ETF applications on November 11, given their February filing date.
Odds For ETF Approvals In 2025 Surge
Despite the surge in ETF delays by the SEC, new data reveals a spike in approval odds in 2025. According to data from Bloomberg Intelligence, the odds for Grayscale’s Hedera ETF application approval in 2025 are pegged at 80%.
Per the data, spot ETF approval odds for Litecoin and Solana from a raft of issuers stand at an impressive 90%. Analysts like Bloomberg’s Eric Balchunas and James Seyffart are predicting early approvals in the coming months, led by Solana. The SEC has previously directed Solana ETF issuers to amend their S-1 filing, sparking speculation for an incoming approval spree.
“Get ready for a potential altcoin ETF summer with Solana likely leading the way,” said Eric Balchunas, Bloomberg’s senior ETF analyst
Amid the rising odds, ETF Store President Nate Geraci argues that an approval for Grayscale’s XRP Fund will come before Solana ETFs.
- Bitcoin’s Bull Cycle May Peak This Month, Peter Brandt Says
- Ethereum Whales Buy $204M ETH Amid Rebound Above $4,400
- SOL Rises as Nasdaq-listed Forward Completes $1.65B Raise For Solana Treasury
- Breaking: U.S. CPI Inflation Rises To 2.9% YoY, Bitcoin Reacts
- Over $4 Billion in Bitcoin and Ethereum Options Expiring After US CPI
- Pi Network Price Wyckoff Theory Signals a Surge as One Whale Keeps Buying
- ETH Price Prediction As Bitmine and SharpLink Continue ETH Buying Spree- Analyst Predicts $7K Next
- AVAX Price Prediction as Avalanche $1B Treasury Gains Momentum – Is $55 in Sight?
- Pump Price Forecast as $12M Buyback Fuels Scarcity — Is $0.01 in Sight?
- SUI Price Prediction as Mysten Labs Meets SEC Ahead of ETF Decision—Is $7.5 Next?
