- The SEC delays Polkadot and Hedera ETF to find more public opinions.
- Analysts predicted Crypto ETF approval in the fourth quarter of 2025.
As expectations for some encryption ETF applications waiting for regulatory clarity are established, two digital asset funds, focusing on polkadot (DOT) and Hedera (HBAR), are now in the spotlight.
HEDERA, Polkadot ETF decision has been delayed
The US Securities and Exchange Commission (SEC) issued a new statement requesting further disclosure of this proposal and effectively delayed the decision beyond the coming second deadline.
This move signals a careful approach to encryption-connected investment products of large corporations, even if market participants are waiting for decisive approval timelines.
Just before the second deadline, the SEC decided to postpone the decision on the proposed HEDERA ETF and GrayScale’s polkadot ETF.
The agency announced that it would open a proposal for further public comment instead of making a ruling.
This delay is expected to be the third deadline until September 9, and the final decision is expected by November 8th.
In a similar movement, the SEC delayed the response to the canary spot SUI ETF to deepen the uncertainty surrounding the future of this digital asset fund.
What are the analysts expect?
Bloomberg analyst James Seyffart pointed out that the US SEC will not approve the encryption ETF application that is withheld in the short term.
According to Seyffart, green lights of the proposed polkadot and hedera ETFs may not arrive until 4Q and are close to the deadline at the end of this year.
In fact, Eric Balchunas also believes the same.
“This exists at some point. First, we can get an active encryption ETF (ETA Winter 2025).
In the context, Gray Scale remains the only applicant of Polkadot ETF, and GrayScale and Canary Capital are both pursuing HBAR ETFs, but Canary first submitted the application.
The second deadline for GrayScale’s HBAR ETF on June 15 will result in another delay of the SEC.
Proposal
Meanwhile, Canary Capital, along with Vaneck and 21Shares, insisted that the committee would resurrect the ‘first-file’ approval model.
The SEC has not yet dealt with the industry’s appeals to restore the ‘first-file’ rules, but the advantage is that the Canary Capital can take advantage of Gray Scale when the first Hedera ETF is released.
Dot and HBAR’s price behavior
However, despite the delay and ongoing discussions, the market reaction was still muted.
For example, DOT traded for $ 4.30, reflecting an increase of 4.52% over the last 24 hours, while HBAR has increased by 1.65% to $ 1.798.
This indicates that even if ETF crystals are balanced, investor feelings around the tokens are relatively stable.