SEC Needs More Time to Decide on Polkadot, Hedera ETFs
The U.S. Securities and Exchange Commission has postponed decisions on applications for exchange-traded funds (ETFs) tracking the spot prices of Polkadot, Hedera, Bitcoin, and Ethereum. The SEC must decide on the Nasdaq's requests for the Canary HBAR ETF and Grayscale Polkadot Trust by June 11, and on a Bitwise Bitcoin and Ethereum ETF by June 10. A total of 72 crypto-related ETFs are awaiting SEC approval. Recent applications include a fund tracking Tron’s TRX token with staking benefits, as well as proposals for Solana, Cardano, XRP, Dogecoin, Litecoin, and Avalanche ETFs. The Grayscale Bitcoin Trust manages nearly $18 billion in assets under management (AUM), while the Bitwise Bitcoin ETF controls about $3.6 billion. Combined, Bitcoin funds manage around $100 billion in AUM, reflecting significant growth in the ETF sector. Hedera's price increased by 5%, and Polkadot's rose nearly 7% in the last 24 hours.
