NewsletterBreaking: US SEC Delays Decision On Grayscale Spot Hedera ETF
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.
Why Trust CoinGape
CoinGape has covered the cryptocurrency industry since 2017, aiming to provide informative insights Read more… to our readers. Our journal analysts bring years of experience in market analysis and blockchain technology to ensure factual accuracy and balanced reporting. By following our Editorial Policy, our writers verify every source, fact-check each story, rely on reputable sources, and attribute quotes and media correctly. We also follow a rigorous Review Methodology when evaluating exchanges and tools. From emerging blockchain projects and coin launches to industry events and technical developments, we cover all facets of the digital asset space with unwavering commitment to timely, relevant information.
Delivered every day.
- Insights that move markets
- 100,000 active subscribers
Related Articles
- Hyperliquid Halts Deposits and Withdrawals Amid POPCAT Liquidation Saga
- Arthur Hayes Issues Advice To ZEC Holders Amid Push For Crypto Privacy
- Market Structure Bill: Senate Ag Committee Targets Early December Markup
- Breaking: U.S. SEC Unveils ‘Token Taxonomy’ To Help Classify Crypto Assets
- Winklevoss Twins Unveil Zcash Treasury Company Cypherpunk, Eyes 5% ZEC Supply
- Ethereum Price Holds Above $3,400: Can Bulls Defend This Key Support?
- After a 108,000% Burn Spike, Will Shiba Inu Price Hit $0.000016 Next?
- Bitcoin Price Eyes Fresh Rally as U.S Government Reopening Sparks Risk-On Mood
- Pi Network Price Eyes Rally to $0.5 as Top Whale Holdings Nears 375M Tokens
- When Will Solana Price Reach $300: Prediction and Analysis
- Chainlink Price Targets $20 After Bitwise ETF Gets DTCC Approval
