SEC Kicks the Can Down the Road—Again—on Crypto ETF Approvals

Another month, another delay. The SEC’s predictable foot-dragging on crypto ETFs leaves institutional investors tapping their watches—and retail traders stuck gambling on meme coins instead.

Wall Street’s favorite game: pretend to embrace innovation while maintaining status quo. Meanwhile, Bitcoin’s liquidity grows without their blessing.

In brief

• The SEC postpones its decision on several crypto ETFs until June.
• Paul Atkins’ arrival at the head of the SEC raises hopes for a pro-crypto shift.

A strategic delay that rekindles uncertainty over crypto ETFs

Cryptocurrency investors were expecting a swift decision. But the reality is quite different! Indeed, the SEC has justconcerning several ETF projects. This includes:

• the Grayscale Polkadot Trust
• the Canary Hedera ETF
• the combined Bitcoin and Ethereum ETF from Bitwise.

According to the SEC’s statement, these will have to wait untilfor possible approval.

The Commission considers it appropriate to provide a longer period to review the proposed rule change.

This is a cautious but revealing wording. Remember that it is now led by Paul Atkins, a figure known for his pro-crypto market stance. He was sworn in just 3 days ago, on April 22, 2025.

A heavy wait, but hope is strengthened!

According to several crypto experts, this delay is not insignificant. It concerns major assets such as:

• Polkadot
• Hedera
• Bitcoin
• Ethereum.

Upstream, it is known thatare becoming both a geopolitical and economic issue. Some observers see in Atkins’ upcoming roundtable on cryptocurrencies, scheduled for Friday, a desire to take control of these decisions.

Despite the absence of immediate approval, this delay does not sound like a refusal. On the contrary, it opens the way toin a more favorable climate than under the Gensler era. The previous approvals of spot Bitcoin ETFs in January 2024 and Ethereum in July also suggest a certain logic in the sequence of events.

While the SEC is stalling, crypto market players hope for a decisive regulatory turnaround. June 2025 could thus mark a turning point for the future of crypto ETFs. A file to follow closely!

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