SEC delays decisions on Bitwise Dogecoin and Grayscale Hedera ETF until November
The US Securities and Exchange Commission (SEC) delayed decisions on Bitwise Dogecoin ETF and Grayscale Hedera ETF, keeping both applications under review until November 12.
On Tuesday, the SEC pushed back the deadline on NYSE Arca's proposal to list the Bitwise Dogecoin ETF. The application was first filed in March and published in the Federal Register on March 17, beginning with the legal review period.
That same day, the agency reviewed Greyscale's application to list the Hedera ETF, setting a November deadline.
Greyscale updated its long-standing Litecoin and Bitcoin Cash trust documents, looking to convert from trusts to ETFs. Converting trusts to the national currency enables daily share creation and redemption, aligns prices with net asset value and reduces the high premiums and discounts seen in over-the-counter (OTC) trading.
The company set the precedent when it turned the Grayscale Bitcoin Trust (GBTC) into the first US-listed Bitcoin ETF in 2024 after a court battle with the SEC. Now he is looking to apply the same model to Bitcoin Cash (BCH) and Litecoin (LTC).
Related: How High Can DOGE Price Go When Dogecoin ETF Is Approved?
SEC delays highlight an uncertain future for altcoin ETFs
The proliferation of altcoin ETF applications in 2025 has kept the SEC on the rise.
As of July 31, at least 31 altcoin spot-ETF applications have been filed for the first half of 2025, including proposals for XRP, Dogecoin, Solana, Litecoin, Avalanche, and BNB.
As of August 29, at least 92 crypto-related ETF products were awaiting SEC rulings. Institutional interest is especially strong for Solana (SOL), with eight applications, and XRP, with seven applications in line.
In most cases, the SEC has chosen to take full advantage of review periods rather than issue preliminary approvals or denials.
In August, the SEC extended several crypto ETF filings, including NYSE Arca's Truth Social Bitcoin and Ethereum ETF to October 8, 21Shares and Bitwise Solana ETFs to October 16, and 21Shares Core XRP Trust to October 19.
In the year On August 25, the agency reviewed Cboe BZX's proposal to list the Wisdomtree XRP fund, set October 24 as a new deadline, and on the same day delayed its decision on the Canary PENGU ETF to October 12.
Magazine: SEC's U-turn on crypto leaves key questions unanswered
