Claim CardBreaking: US SEC Delays Decision On Polkadot & Hedera ETFs
Highlights
- The US SEC delayed its decision on Grayscale's Polkadot ETF and Canary Hedera ETF ahead of the second deadline tomorrow.
- The next deadline for a decision on these funds is September 9th.
- The final deadline is on November 8th.
The US Securities and Exchange Commission (SEC) has released a statement on the Polkadot and Hedera ETFs ahead of the second deadline for these funds. The Commission has called for more comments on the filings and has, in the process, delayed its decision to approve or deny these applications.
US SEC Delays Polkadot & Hedera ETFs
A SEC release has shown that the Commission has delayed its decision on Canary Capital’s Hedera ETF filing. This comes ahead of the second deadline, which is tomorrow. Instead of approving or denying this fund, the agency has called for additional comments related to the application.
Similarly, the SEC has also delayed its decision on Grayscale’s Polkadot ETF filing ahead of the second deadline tomorrow. The third deadline for these funds is September 9, while the fourth and final deadline is November 8.
Bloomberg analyst James Seyffart has predicted that the Commission is unlikely to approve these crypto ETFs until the fourth quarter of this year. This means that the agency will likely wait until the final deadline to approve these Polkadot and Hedera ETFs.
It is worth mentioning that Grayscale is the only asset manager that has filed to offer a Polkadot ETF. Meanwhile, Canary Capital and Grayscale are the only two ETF issuers that have filed for an HBAR ETF. However, Canary filed its application before Grayscale. The second deadline for Grayscale’s ETF comes up on June 15, and the SEC is likely to also delay its decision on this fund.
Canary Capital, alongside Van ECK and 21Shares, recently urged the SEC to reinstate the ‘first-to-file’ approval principle for ETF filings. These crypto ETF issuers argued that it would ensure a vibrant and competitive financial marketplace.
The Commission has yet to respond to the letter. However, if the SEC agrees, this would mean that Canary could get a head start over Grayscale with its Hedera ETF.
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
- Expert Predicts Deeper Bitcoin Decline as JPMorgan CEO Warns of Similarities to the 2008 Financial Crisis
- Trump Won’t Pardon FTX’s Sam Bankman-Fried (SBF), White House Says
- Third Spot SUI ETF Goes Live as 21Shares Fund Launches on Nasdaq
- Mark Zuckerberg’s Meta Reportedly Eyes Stablecoin Integration This Year Amid Regulatory Clarity
- Coinbase Rivals Robinhood As It Rolls Out Stocks, ETFs Trading In ‘Everything Exchange’ Push
- Cardano Price Signals Rebound as Whales Accumulate 819M ADA
- Sui Price Eyes Recovery as Third Spot SUI ETF Debuts on Nasdaq
- Pi Network Price Eyes a 30% Jump as Migrations Jumps to 16M
- Will Ethereum Price Dip to $1,500 as Vitalik Buterin Continues Selling ETH?
- XRP Price Outlook as Clarity Act Passage Odds Plunge to 53%
- COIN Stock Risks Crashing to $100 as Odds of US Striking Iran Jump
