SEC Delays Altcoin ETFs: Dogecoin & Hedera Reviews
The US SEC has extended its review of altcoin ETFs, delaying decisions on the Bitwise Dogecoin and Grayscale Hedera ETF proposals to November 12. This move highlights continued regulatory caution amid a growing altcoin ETF backlog: 92 crypto-related products are awaiting rulings, including 31 spot altcoin ETF filings in 2025 for XRP, DOGE, SOL, LTC, AVAX and BNB. Grayscale—fresh from converting its Bitcoin Trust into the first US spot Bitcoin ETF—is also seeking approval to convert its Litecoin and Bitcoin Cash trusts into ETFs. The SEC’s repeated use of maximum statutory review periods signals ongoing uncertainty for altcoin ETF approvals, with potential impacts on market inflows, trader sentiment and short-term price volatility.
Neutral
The delays reflect the SEC’s cautious stance and growing backlog in altcoin ETF reviews. Historically, the use of maximum statutory review periods does not imply outright rejection of altcoin ETF filings, but it slows approval processes and can dampen inflows, trader sentiment and amplify short-term price volatility. However, these proposals still have potential for eventual approval, which could generate long-term demand, making the overall impact neutral.