The U.S. Securities and Exchange Commission (SEC) has prolonged its evaluation process for spot exchange-traded funds (ETFs) tied to Polkadot (DOT) and Hedera (HBAR), requesting further public feedback and effectively deferring final rulings originally slated for earlier this year. Analysts anticipate formal approvals for these cryptocurrency ETFs will likely be delayed until late 2025, signaling continued regulatory prudence in crypto investment products.
Major industry players, including investment firm Canary Capital, argue for reinstating a ‘first-to-file’ ETF approval system to ensure competitive fairness and operational efficiency in the evolving market. This push comes amid frustration over extended evaluations and uneven application processes.
Despite the delay announcement, both Polkadot and Hedera markets demonstrated resilience, with DOT registering a 4.52% price increase and HBAR climbing 1.65% shortly after the SEC’s decision, reflecting tempered short-term investor reaction.
Broader projections indicate actively managed cryptocurrency ETFs may gain traction within the next six months, while specialized products like memecoin-focused ETFs face a longer regulatory pathway and are unlikely to debut before 2026.