CMC News

#SEC Delays #Grayscale Hedera Decision as #CryptoETF Queue Grows

The SEC has pushed back its decision on Grayscale's Hedera Trust to Nov. 12 while the investment firm submitted updated registrations for its $BCH and $LTC trusts. The delay adds another chapter to the Commission's review of over 90 pending crypto ETF applications across multiple digital assets.

Grayscale filed registration statements for both $BCH and $LTC trusts on Form S-3, indicating these are existing vehicles already reporting to the SEC. Bank of New York Mellon will serve as administrator while #Coinbase handles custodial and prime brokerage services for both products structured to list on NYSE Arca.

The Hedera Trust represents a separate filing under Form S-1 as an initial SEC registration, proposing to trade under the ticker HBAR. This product requires Nasdaq's pending rule-change approval before potential listing can proceed through normal regulatory channels.

SEC procedural rules typically allow 180 days for exchange rule-change decisions, with an additional 60-day extension available for comment review or amendment assessment. The Commission frequently exercises these extensions to evaluate complex crypto product proposals thoroughly.

Earlier procedural delays affected #SolanaETF applications, with the SEC extending review deadlines to Oct. 16 for proposals from Bitwise, 21Shares, and other applicants. The pattern suggests regulators are taking measured approaches to expanding crypto ETF approvals beyond $BTC and $ETH precedents.