SEC sets Dogecoin, Hedera and Avalanche ETF applications on the industrial flame-upward dynamics stops
- The SEC delays in Dogecoin, Hedera and Avalanche ETF applications indicate a low processing priority, only when the SOL application will look like soon.
- The industry pushes the SEC out of fairness to the “First-in-First out” principle in the application processing.
The US stock exchange supervisory authority (SEC) has extended its examination of several proposed stock market spot funds (ETFs), which are bound to the popular Altcoins Dogecoin, Hedera and Avalanche.
While this development extends the regulatory path for crypto -based investment products, interpretThe latest process technology signals around the Solana ETF applications It is that the dynamics for ETFs continue to increase as a whole.
In the applications published on June 13, the SEC delayed decisions about the Bitwise Dogecoin ETF, the Grayscale Hedera Trust and the Vaneck Avalanche ETF. The authority published almost identical reports in which it asked the public to comment and emphasized that the initiation of the procedure does not mean that the Commission had reached any conclusions.
This wording is in line with the established SEC examination procedure, but is becoming increasingly common. Dozens of suggestions for stock markets traded funds of digital assets are still being checked, while the Commission processes the applications. Paul Atkins, who was sworn in as a SEC chairman in April, has publicly stated that he is aiming for more constructive use of digital assets than his predecessor Gary Gensler.
Solana development indicate approval
Despite the regulatory standstill for some altcoin ETFs, developments in the Solana ETF category analysts have given reason to assume that admission could not be far away. According to reports this week, the SEC asked several Solana ETF emitters to update their S-1 registration declarations, a necessary step that is usually preceded by the final approval.
Eric Balchunas, senior ETF analyst at Bloomberg, found that the request to update the applications indicates that the SEC actively examines the applications. If there are no further procedural delays, he estimates that a Solana-Spot ETF could be approved within two to four months.
21Shares, one of the companies behind the proposal for a Solana ETF, confirmed that she received comments from the SEC and will shortly submit a changed S-1 form. This indicates a lively and continuous dialogue between regulatory authorities and issuers, which market observers see as a positive sign.
Some ETF sponsors have expressed their concern about the procedure of the SEC when submitting the application. Vaneck and 21shares submitted a joint letter at the beginning of this week in which they criticize the failure of the Commission to follow the first-to-file principle. The letter argues that ignoring the submission order disturbs the fairness and imposes additional costs for the early appeals.
“When the Commission plays the favorite, the ETP sponsors will cost money and make the market less fair,” wrote the companies and urged a return to transparent and uniform approval standards. The SEC has neither publicly answered the letter nor expressed the intention to change its test procedures.
Effects on the market
While delays in ETF decisions often lead to short-term uncertainty, they do not necessarily dampen the interest of investors. The growing number of applications and the increased dialogue between ETF sponsors and the SEC indicate that the authority is gradually moving towards more structured permits for digital assets.
The request for the public statement on the Dogecoin, Hedera and Avalanche ETFs keeps the door open for any progress. Since the regulatory pressure is shifting and a new tour is established, the wider landscape for crypto ETFs is developing. Despite the delays this week, market participants continue to focus on the medium-term development, in which the approval of at least some Altcoin ETFs seems more and more likely.
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