SEC Delays Polkadot & Hedera ETF Decisions—Here’s the Inside Scoop and What Comes Next

The SEC just hit pause on Polkadot and Hedera ETFs—again. Here’s why regulators are dragging their feet, and how this delay could reshape the crypto landscape.

The Regulatory Tango

Another day, another delay. The SEC’s latest move kicks the can down the road for Polkadot and Hedera ETFs, leaving traders and institutions in limbo. No surprises here—just the usual bureaucratic shuffle.

Why the Hold-Up?

Blame it on paperwork, politics, or plain old caution. The SEC’s playbook is predictable: stall, study, repeat. Meanwhile, crypto markets keep evolving faster than regulators can say ‘volatility.’

What’s Next for Traders?

Expect more waiting—and maybe a last-minute approval when everyone’s stopped paying attention. Classic SEC. Until then, Polkadot and Hedera communities will keep building, because let’s face it, Wall Street’s delays won’t stop decentralized progress.

The Bottom Line

Regulators love to ‘protect’ investors by denying them opportunities. Meanwhile, crypto marches on—with or without their blessing.

Hedera, Polkadot ETF decisions delayed

The U.S. Securities and Exchange Commission (SEC) has issued a fresh statement requesting additional public input on these proposals, effectively postponing its decision past the upcoming second deadline.

This MOVE signals the agency’s continued cautious approach to crypto-linked investment products, even as market participants await definitive approval timelines.

Right before the second deadline, the SEC chose to delay its decision on Canary Capital’s proposed Hedera ETF and Grayscale’s Polkadot ETF.

Instead of issuing a ruling, the agency announced it WOULD open the proposals to additional public commentary.

These delays push the third deadline to the 9th of September, with a final ruling expected by the 8th of November.

In a similar move, the SEC has also delayed its response to the Canary Spot sui ETF, deepening the uncertainty surrounding the future of these digital asset funds.

What are analysts anticipating?

Bloomberg analyst James Seyffart has indicated that the U.S. SEC is unlikely to approve the pending crypto ETF applications in the near term.

According to Seyffart, green lights for the proposed Polkadot and Hedera ETFs might not arrive until the fourth quarter, closer to their respective final deadlines later this year.

In fact, Eric Balchunas also believes the same –

“Really good chance this exists at some point. First we’ll get slew of active crypto ETFs (eta Winter 2025). Active memecoin-only likely 2026 tho.”

For context, Grayscale remains the sole applicant for a Polkadot ETF, while both Grayscale and Canary Capital are pursuing HBAR ETFs, though Canary submitted its application first.

With the second deadline for Grayscale’s HBAR ETF approaching on the 15th of June, another delay from the SEC appears likely.

Suggestions for the SEC

In the meantime, Canary Capital, along with VanEck and 21Shares, has called on the Commission to revive the ‘first-to-file’ approval model, arguing that such a framework would enhance fairness and competitiveness in the ETF market.

While the SEC has yet to address the industry’s appeal to reinstate the ‘first-to-file’ rule, a favorable response could give Canary Capital an edge over Grayscale in launching the first Hedera ETF.

Price action of DOT and HBAR

However, despite the regulatory delays and ongoing discussions, the market reaction remained muted.

For instance, DOT traded at $4.30, reflecting a 4.52% gain over the past 24 hours, while HBAR saw a modest 1.65% increase, reaching $1.798.

This indicates that investor sentiment around these tokens remains relatively stable, even as ETF decisions hang in the balance.