The Securities and Exchange Commission (SEC) American has once again been postponing its decisions concerning two eTF Crypto much awaited. ETF Bitwise Dogecoin and Grayscale Hedera will have to wait until November 12 to find out their fate.
In short
- The SEC reports to November 12 its decisions on the Bitwise Dogecoin and Grayscale Hedera.
- Over 90 ETF Crypto await a decision of the American regulator.
- Bloomberg estimates 90 % the probability of approval of ETF XRP, Dogecoin and Cardano by the end of 2025.
- Grayscale focuses on experience with GBTC to convert its existing trusts.
The dry rejects its decision on the Crypto ETF in November
The SEC announced on Tuesday a new postponement concerning two emblematic files: the ETF Bitwise Dogecoin, whose request had been filed by Nyse Arca in March, and the ETF Grayscale Hedera.
The two financial products are now found aligned on the same deadline of November 12, a sign of a will of the Commission to synchronize its examination processes.
This postponement is part of a context of unprecedented engorgement. As of August 29, no less than 92 ETF Crypto requests remained pending.
Among them, Solana dominates with eight proposals, followed closely by XRP with seven. This concentration illustrates the growing interest of institutions for altcoins, eager to diversify their exposure beyond Bitcoin and Ethereum.
For its part, Grayscale advances with a weight asset: the GBTC experience. In 2024, the company had marked history by converting its Trust Bitcoin in the first American and American spot, after a judicial show with the dry.
Building on this success, she now seeks to reproduce this model with Bitcoin Cash and Litecoin, by transforming her existing trusts into Listed ETF.
The stake is considerable: these conversions would allow daily creations and redemptions, eliminating the sometimes considerable premiums and discussions observed in the over -the -counter markets. A major competitive advantage that could appeal to institutional investors.
A delay which masks a change in regulatory paradigm
THE repeated appeal of the dry Maximum extensions does not necessarily reflect hostility. On the contrary, this practice can reflect a methodical strategy, intended to examine several files in parallel in order to avoid any hasty decision.
Already in August, the agency had rejected several requests from ETF Crypto Major: Truth Social Bitcoin and Ethereum on October 8, 21Shares and Bitwise Solana on October 16, as well as the 21shares Core XRP Trust on October 19.
These reports, aligned with close deadlines, suggest that the dry seeks to treat approvals by coordinated waves, in order to limit an uncontrolled domino effect on the markets.
The regulatory context has also changed deeply. Since April, the presidency of the SEC has been provided by Paul Atkins, who has succeeded Gary Gensler. This transition marks a major turning point, with an approach deemed more conciliatory towards digital assets and more open to dialogue with industry.
Positive signals are multiplying. In June, Bloomberg Eric Balchunas and James Seyffart analysts raised 90 % the probability of approval of ETS in cash for XRP, Dogecoin and Cardano by the end of the year.
A spectacular reassessment which illustrates not only the evolution of the institutional posture, but also the expectation of a historical tilting for altcoins.
A race against the watch before the fall deadlines
The fall of 2025 promises to be a pivotal moment for the American crypto ecosystem. On the first half of the first half of ETF Altcoin, covering major assets such as Solana, Avalanche or BNB.
The dry must now manage an unprecedented logistical challenge, with a saturated calendar and growing institutional pressure.
However, the stake greatly exceeds the simple technical approval of new financial products. What is played out is the establishment of a coherent and sustainable regulatory framework, capable of integrating altcoins into the architecture of the American market for the years to come.
Successive reports decided by the dry then appear less as blockages than as the sign of a methodical preparation. Rather than acting in a rush, the agency seems to want to orchestrate a gently switch, avoiding excessive volatility while testing the solidity of the files.
In short, as November approaching, investors are watching for a verdict that could mark a historic turning point: the opening of the ETF Crypto market in Altcoins. If it is materialized, this step could cause strong shaking on the markets and, why not, trigger the long -awaited “Altseason”.
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