The U.S. Securities and Exchange Commission (SEC) has postponed its decision on the Bitwise Dogecoin ETF and Grayscale Hedera ETF, extending the review period for both applications until November 12.
On Tuesday, the SEC delayed the deadline for the Bitwise Dogecoin ETF proposed for listing on the New York Stock Exchange Arca. The application was initially submitted in March and published in the Federal Register on March 17, starting the statutory review period.
On the same day, the agency also extended the review of Grayscale's application to list the Hedera ETF, setting the same November deadline.
Grayscale has updated its long-standing Litecoin and Bitcoin Cash trust application documents, seeking to convert them from trusts to ETFs. Transferring the trusts to a national exchange would allow for daily share creation and redemption, bringing prices closer to net asset value and reducing the significant premiums and discounts that occur in over-the-counter (OTC) trading.
The company set a precedent in 2024 by converting the Grayscale Bitcoin Trust (GBTC) into the first spot Bitcoin ETF in the U.S. after a court battle with the SEC. It now hopes to apply the same model to Bitcoin Cash (BCH) and Litecoin (LTC).
There has been a surge in altcoin ETF applications for 2025, leaving the SEC with an increasing backlog.
As of July 31, at least 31 altcoin spot ETF applications were submitted in the first half of 2025, including proposals for XRP, Dogecoin, Solana, Litecoin, Avalanche, and BNB.
As of August 29, at least 92 crypto-related ETF products are awaiting SEC decisions. Notably, there is particularly high interest in Solana (SOL), with 8 applications, and 7 applications for XRP waiting in line.
In most cases, the SEC chooses to use the full duration of its review period, repeatedly extending deadlines rather than approving or rejecting applications early.
In August, the SEC postponed several crypto ETF applications, including delaying the Truth Social Bitcoin and Ethereum ETF from the New York Stock Exchange Arca to October 8, the 21Shares and Bitwise Solana ETF to October 16, and the 21Shares Core XRP Trust to October 19.
On August 25, the agency extended the review of the proposed WisdomTree XRP fund for listing on the Chicago Board Options Exchange BZX, setting a new deadline of October 24, and on the same day postponed the decision on the Canary PENGU ETF to October 12.
Related: Liquidity Tsunami and Asset Transformation: Why the Year-End Bull Market is Said to be Led by Bitcoin (BTC)?
Original: “SEC Delays Decisions on Bitwise Dogecoin ETF and Grayscale Hedera ETF to November”
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