TLDR
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SEC Delays VanEck Avalanche ETF Decision to July 28
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Avalanche, Dogecoin, and Hedera ETFs Stuck in SEC Limbo
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Altcoin ETFs on Hold as SEC Extends Review Periods Again
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SEC Postpones Avalanche ETF Ruling, Seeks More Comments
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Regulatory Uncertainty Deepens for Altcoin ETF Applicants
The U.S. Securities and Exchange Commission has extended its review period for the proposed VanEck Avalanche ETF. This delay adds to a growing list of pending altcoin ETF applications under the agency’s new leadership. The Commission now has until July 28, 2025, to approve, reject, or begin disapproval proceedings.
VanEck Avalanche ETF Faces Extended Review
The Nasdaq Stock Market filed the VanEck Avalanche ETF proposal with the SEC on April 9, 2025. The proposal aims to list the ETF under Nasdaq Rule 5711(d), which covers commodity-based trust shares. The Commission published the application for public comment on April 29.
SEC delays approval of DOGE, HBAR, AVAX ETFs
The U.S. Securities and Exchange Commission (SEC) has delayed its approval of the @BitwiseInvest Dogecoin ( $DOGE ) exchange-traded fund (ETF), @Grayscale's Hedera Trust ( $HBAR ) and @vaneck_us Avalanche ( $AVAX) ETF, The Block…
— CoinNess Global (@CoinnessGL) June 12, 2025
According to the SEC, the 45-day review deadline originally fell on June 13, 2025. However, the agency opted to extend the period to allow more time for evaluation. This new deadline, July 28, gives the SEC the option to approve, deny, or initiate further proceedings.
VanEck’s application remains active, but the decision delay reflects the Commission’s cautious stance. The SEC did not indicate any conclusions on the matter but encouraged public feedback. This standard procedure allows stakeholders to address potential risks or support market innovation.
Bitwise Dogecoin ETF Also Sees Delay
In addition to Avalanche, the SEC also postponed decisions on the Bitwise Dogecoin ETF. Bitwise seeks to offer a spot Dogecoin ETF that reflects the price performance of DOGE in U.S. markets. This product joins several altcoin ETFs awaiting SEC response.
The delay aligns with a broader trend of cautious progression under the new SEC chair, Paul Atkins. Since assuming the role in April, Atkins has focused on increasing clarity in digital asset regulation. While firms await decisions, the SEC continues to request updated filings.
Bitwise and other issuers remain active in addressing agency feedback and updating documents as required. However, these postponements create uncertainty for both sponsors and investors. Each delayed decision signals the complexity of launching altcoin ETFs under evolving regulatory frameworks.
SEC Requests Comments on Hedera Trust
The SEC has also deferred its decision on the Grayscale Hedera Trust. This proposal aims to offer investors direct exposure to Hedera Hashgraph’s HBAR token. Grayscale submitted the filing to expand its suite of digital asset investment products.
The Commission has not made a final ruling but asked for further public input on the trust structure and market readiness. These delays come as the SEC faces a mounting backlog of spot crypto ETF filings. Stakeholders continue to push for quicker decisions and clearer policies.
Grayscale and others have voiced concern about inconsistent approval timelines. They argue that the Commission should follow a first-to-file standard to maintain fairness. However, the SEC maintains its current pace as it evaluates each application independently.
Future Outlook
The SEC continues to weigh altcoin ETF applications amid shifting regulatory strategies. As review periods extend, issuers await clarity on future digital asset fund approvals. Investors and sponsors now look ahead to late July for the Commission’s next move.
