SEC Delays Decisions on Crypto ETFs Amid Surge in Filings

Bitwise and Canary Capital's Proposals Pushed Back

Hold onto your hats, crypto fans! The U.S. Securities and Exchange Commission just threw a wrench in the plans of Bitwise and Canary Capital, delaying decisions on their Bitcoin, Ethereum, and Hedera ETFs. Why? They need more time to sift through the avalanche of ETF filings hitting their desks. The new deadlines? June 10 and 11. Buckle up, it's gonna be a wild ride!

SEC Grapples with Growing Crypto ETF Applications

It's not just Bitwise and Canary feeling the heat. The SEC is juggling more crypto ETF applications than a circus performer on a unicycle. Grayscale's Polkadot Trust conversion to an ETF? Delayed until June 11. It's like the SEC is playing a high-stakes game of regulatory whack-a-mole!

Leadership Shift at SEC Could Impact Crypto ETF Approvals

But wait, there's a twist! Crypto-friendly Paul Atkins just stepped into the SEC's big chair. Could this be the game-changer we've been waiting for? With Atkins at the helm, the SEC might just start green-lighting more crypto ETFs. The future's looking bright, folks!

Analysts Track Growing List of Pending ETF Submissions

Bloomberg's James Seyffart is on the case, keeping tabs on the ever-growing list of ETF submissions waiting for the SEC's stamp of approval. We're talking Solana, Ripple, Sui, Litecoin, Axelar, Binance Coin, Cardano, Avalanche, Dogecoin, Aptos, Chainlink, Bonk, and even the newest memecoins like Pudgy Penguins, Official Trump, and Melania. It's a crypto ETF party, and everyone's invited!

SEC Reviews Proposals for Index-Style Funds and Additional BTC and ETH ETFs

But that's not all, folks! The SEC is also eyeballing proposals for index-style funds that bundle multiple cryptos together, plus more Bitcoin and Ethereum ETFs. It's like a crypto ETF buffet, and the SEC is trying to taste-test everything before making a decision.

Bitcoin ETFs Expected to Dominate Despite Altcoin ETF Surge

Despite the altcoin ETF frenzy, Balchunas from Bloomberg thinks Bitcoin ETFs will still rule the roost. "Bitcoin ETFs command 90% of all the crypto fund assets globally," he wrote on X. "While a TON of alt/meme coin ETFs are likely going to hit market this year, they will only make a minor dent. Bitcoin likely to retain at least 80-85% share long-term." Looks like Bitcoin's still the king of the crypto ETF jungle!