The American Securities and Exchange Commission (SEC) has again postponed a decision about two important crypto-etf’s. This is apparent from an official press release from the SEC. It is about the Avalanche (Avax) and Cardano (ADA) ETFs of crypto asset manager Grayscale. The deadline has now been moved to July 15, 2025. Why is this happening?
Extension of assessment period
The SEC uses section 19 (B) (2) of the 1934 Securities Exchange Act to stretch the original 45 -day deadline. According to the regulator, more time is needed to thoroughly analyze the proposals. This type of extensions is not unusual with innovative financial products such as cryptofonds.
The proposal for the Avalanche-ETF was submitted by the Nasdaq on March 27, 2025. In addition, the intention is to make shares of the Grayscale Avalanche Trust tradable under Nasdaq rule 5711 (D). The publication in the Federal Register followed on February 16, which started to run the assessment clock.
The application for a Cardano-ETF was submitted on 10 February and officially recognized on 24 February by the Securities and Exchange Commission (SEC).
Sec remains careful
Until now, no spot ETF has been approved in the US for an altcoin except Ethereum (ETH). Bitcoin and Ethereum are so far the only approved crypto ETFs. Despite a lot of rumors about Spot Ripple (XRP) and Solana (SOL) ETFs, among others, the SEC remains extremely careful with the admission of products that follow the value of other cryptocurrencies.
The delay fits in a wider strategy. Earlier this month, the SEC also postponed the decision on four Solana-ETFs from providers such as Bitwise and Vaneck. They even started a formal procedure to determine whether the applications comply with the regulations.
According to ETF analyst James Seyffart, it is a standard procedure that the SEC uses the full term. This also happened with the spot Bitcoin ETFs, for example. In that case, a final decision would only fall by October 2025. Until that time, public input remains welcome.
So for investors and the crypto sector it remains to be seen. Yet it is clear that the American regulator is aware of the impact of these products on the broader financial market. The pace is slow, but the direction is clear: careful analysis over rapid approval.
Source: https://newsbit.nl/avalanche-en-cardano-etfs-in-de-wacht-sec-stelt-beslissing-uit/
