Simply put
- The SEC has established a new deadline for Grayscale’s Hedera Trust, set for November 12th.
- Grayscale has provided updates for its Bitcoin Cash and Litecoin Trusts, both of which are intended for listing on NYSE Arca.
- This delayed decision contributes to a broader context of over 90 Crypto ETF applications, which includes pending products related to Solana and XRP.
The SEC has postponed the decision regarding NASDAQ’s request to list the Grayscale Hedera Trust, coinciding with Grayscale’s recent registration submissions for Bitcoin Cash and Litecoin Trusts.
November 12th has been marked as the new deadline by the SEC.
On the same day, Grayscale also filed its registration statement for Bitcoin Cash Trust and Litecoin Trust, both following the Form S-3 for existing entities already reported to the SEC.
New York Bank Melon is listed as the administrator, while Coinbase serves as the custodian and prime broker; both trusts are aimed for listing on NYSE Arca.
Additionally, Grayscale submitted a Form S-1 for the Hedera Trust, which represents its initial registration with the SEC. The S-1 details new products under the Ticker HBAR, pending NASDAQ’s regulatory approval.
Under U.S. Securities Act guidelines, the SEC typically has 180 days to respond to proposed exchange rule changes; they might extend this for another 60 days to consider comments and revisions before making a final call.
The current delays reflect a larger trend within the SEC.
Earlier in August, the SEC postponed a deadline regarding the Solana ETF application, pushing it to October 16th.
This delay provided the committee more time to assess proposals from Bitwise and 21 Shares, alongside others from Canary Funds and Marine Finance.
Before August ended, over 90 Crypto ETF applications were submitted, which involve products linked to Bitcoin, Ethereum, Solana, XRP, among others.
Many of these are clustered around fall deadlines, raising the chances of several rulings as the committee processes approvals. Bitcoin and Ethereum ETFs were approved last year.
“Assets related to short-term ETF decisions often lead to premium pricing in the market,” noted Lionel Iruk, a managing partner at Empire Legal.
The potential approval of ETFs “unlocks more than just new liquidity in digital assets,” he observed, “offering a compliance and transparency framework traditional investors seek before making investment choices.”
This kind of structure broadens its attractiveness beyond just tech enthusiasts. There’s a hope that crypto ETFs could transition from speculative assets to regulated products that align with institutional standards.
