SEC Extends Deadline for Grayscale’s Hedera Trust Decision
- The SEC has set November 12 as the new deadline to decide on Nasdaq’s bid to list Grayscale’s Hedera Trust.
- Grayscale submitted updated registration statements for its Bitcoin Cash and Litecoin trusts, structured to list on NYSE Arca.
- The SEC’s delay is part of a larger trend, with over 90 crypto ETF applications pending, including Solana and XRP products.
- Bank of New York Mellon will serve as administrator, while Coinbase will act as custodian and prime broker for the trusts.
The SEC has extended its decision timeline for Grayscale’s Hedera Trust to November, amid a surge in crypto ETF applications awaiting approval. This reflects ongoing regulatory scrutiny as the Commission evaluates expanding beyond existing Bitcoin and Ethereum ETFs approved last year.
With over ninety crypto ETF applications pending, including those tied to Solana and XRP, the SEC faces pressure to make multiple rulings soon. The outcome could significantly impact market dynamics by potentially introducing more regulated investment options for digital assets. Source
