SEC Delays Major Cryptocurrency ETF Decisions Amidst Application Surge

The U.S. Securities and Exchange Commission (SEC) is postponing decisions on multiple cryptocurrency exchange-traded fund (ETF) applications, citing a growing backlog of submissions and the need for more time to thoroughly review proposals. The SEC has pushed back decisions on Bitwise’s Bitcoin and Ethereum ETFs as well as Canary Capital’s Hedera ETF, with new deadlines set for June 10th and June 11th respectively. This delay comes amid an increase in crypto ETF applications, which are causing the SEC to grapple with a growing backlog of submissions.