SEC Kicks HBAR and Polkadot ETF Decisions Down the Road—Again

Regulators hit pause on crypto’s latest ETF hopefuls, demanding more time to ’review’ what everyone knows is inevitable.

Wall Street’s favorite two-letter combo—ET—just got delayed for Hedera and DOT. The SEC’s playbook? Stall, study, repeat—until the market forces their hand like it did with Bitcoin.

Meanwhile, institutional money circles like sharks smelling blood in the water. Because nothing motivates regulators faster than the fear of missing out on fees.

Regulatory bottleneck

The extensions come as the SEC faces an unprecedented volume of crypto-related filings. As of this month, the agency is reviewing 72 digital asset ETF proposals, including single-asset, dual-asset, and multi-asset funds tied to a range of tokens beyond Bitcoin and Ethereum.

The sharp increase in applications follows last year’s landmark approvals of spot Bitcoin ETFs in January 2024 and spot Ethereum ETFs in July, which opened the door for broader crypto market exposure through regulated investment vehicles.

The flurry of new filings comes amid a notable shift in regulatory posture under the Trump administration. Since January, the SEC has rolled back several enforcement actions against crypto firms and launched a series of public roundtables aimed at updating digital asset policy.

The next roundtable, scheduled for Friday, will focus on crypto custody frameworks, a key topic for institutions handling client assets.

The SEC’s actions are widely seen as a signal of greater openness, though the agency remains cautious in evaluating whether new crypto products meet investor protection standards.