The U.S. Securities and Exchange Commission has once again postponed crucial decisions on multiple crypto ETFs, creating significant anticipation within the digital asset markets. This regulatory delay affects both Bitwise’s Dogecoin ETF and Grayscale’s Hedera ETF applications, pushing their fate to November 12. Consequently, investors and industry participants await what could become a landmark moment for cryptocurrency adoption.
SEC Extends Crypto ETFs Review Timeline
The Commission announced this week that both prominent crypto ETFs will now face synchronized November deadlines. This strategic alignment suggests methodical review processes rather than outright rejection. Currently, over 92 cryptocurrency ETF applications remain pending before the regulator. Solana leads with eight proposals while XRP follows closely with seven submissions.
Grayscale’s Strategic Advantage with Crypto ETFs
Grayscale leverages its successful GBTC conversion experience as a compelling advantage. The company previously converted its Bitcoin trust into the first U.S. spot ETF after winning a legal battle against the SEC. Now, Grayscale seeks to replicate this model with Bitcoin Cash and Litecoin trusts. These conversions would enable daily creations and redemptions, eliminating substantial premiums and discounts observed in over-the-counter markets.
Regulatory Paradigm Shift for Crypto ETFs
The SEC’s repeated extensions don’t necessarily indicate hostility toward crypto ETFs. Instead, they reflect a coordinated strategy to review multiple files simultaneously. Since April, new SEC leadership under Paul Atkins has adopted a more conciliatory approach toward digital assets. Bloomberg analysts now estimate a 90% probability of approval for XRP, Dogecoin, and Cardano ETFs by end of 2025.
Autumn 2025: Pivotal Moment for Crypto ETFs
The first half of 2025 witnessed 31 altcoin ETF applications covering major assets including Solana, Avalanche, and BNB. The SEC faces unprecedented logistical challenges with a saturated calendar and growing institutional pressure. However, the agency appears to be orchestrating a smooth transition rather than acting hastily. This careful approach aims to avoid excessive market volatility while testing application robustness.
Market Implications of Crypto ETFs Approval
Approval of these crypto ETFs could trigger significant market movements and potentially spark the long-awaited “Altseason.” Institutional investors particularly seek diversified exposure beyond Bitcoin and Ethereum. The establishment of a coherent regulatory framework remains crucial for integrating altcoins into mainstream financial markets. Consequently, November’s decisions could mark a historic turning point for cryptocurrency adoption.
Frequently Asked Questions
Why did the SEC delay the crypto ETFs decisions?
The SEC utilizes maximum extensions to conduct thorough reviews of multiple applications simultaneously, ensuring proper regulatory oversight.
How many crypto ETF applications are currently pending?
As of August 29, 2025, there are 92 cryptocurrency ETF applications awaiting SEC decisions.
What is Grayscale’s advantage in the approval process?
Grayscale benefits from its successful experience converting GBTC into a spot Bitcoin ETF, providing valuable regulatory precedent.
When will the final decisions be announced?
Both the Bitwise Dogecoin ETF and Grayscale Hedera ETF now face November 12, 2025 deadlines.
Which cryptocurrencies have the most ETF applications?
Solana leads with eight ETF proposals, followed closely by XRP with seven applications.
What probability do analysts assign to ETF approvals?
Bloomberg analysts estimate a 90% probability of approval for XRP, Dogecoin, and Cardano ETFs by end of 2025.
