U.S. regulators have extended the review process for ETF applications related to Hedera (HBAR) and Polkadot (DOT), leaving the market in anticipation of final decisions.
Overview of ETF Applications
The applications for ETF by Canary and Grayscale were filed several months ago, but the Securities and Exchange Commission (SEC) has repeatedly paused their reviews. The regulators must now issue a final ruling by November 8, which will determine whether these products can start trading on Nasdaq or be outright rejected.
Analysts' Optimism
Despite the delays in processes, Bloomberg analysts believe the odds of approval are high, pointing to political and institutional support for crypto ETFs. Hedera's application, submitted in February and revised in March, has gone through the full cycle of public notice and commentary.
SEC and Exchange Collaborations
Amid speculation about the future of crypto ETFs, the SEC is actively collaborating with major U.S. exchanges, such as Nasdaq and NYSE, which have updated their listing standards, eliminating outdated language that excluded digital assets from commodity definitions. This may ease the entry of crypto ETFs into traditional markets.
Thus, while the approval process for altcoin ETFs is prolonged, there is hope for a positive outcome that could alter the landscape of the U.S. financial market.
