The US Securities and Exchange Commission (SEC) has delayed its decision on the Bitwise Dogecoin ETF and the Grayscale Hedera ETF applications, pushing back both reviews until November 12th. This follows the SEC’s recent pushback on NYSE Arca’s proposal for the Bitwise Dogecoin ETF, which was originally filed in March and published in the Federal Register on March 17th. The agency also extended its review of Grayscale’s Hedera ETF application to maintain a November deadline. Furthermore, Grayscale has initiated filings to convert their existing Litecoin and Bitcoin Cash trusts into ETFs, aiming to move these trusts onto national exchanges to facilitate daily share creations and redemptions, ultimately aligning prices with net asset value and mitigating the steep premiums and discounts seen in over-the-counter (OTC) trading. This follows a precedent set in 2024 when Grayscale successfully converted the Grayscale Bitcoin Trust (GBTC) into the first US spot Bitcoin ETF after a legal battle with the SEC. The company is now pursuing similar tactics for Bitcoin Cash (BCH) and Litecoin (LTC). The recent surge in applications for altcoin ETFs has left the SEC with a large backlog of applications. As of July 31st, at least 31 applications were filed for spot-ETF products, including proposals for XRP, Dogecoin, Solana, Litecoin, Avalanche, and BNB. On August 25th, the SEC postponed multiple crypto ETF filings, including NYSE Arca’s Truth Social Bitcoin and Ethereum ETF to October 8, the 21Shares and Bitwise Solana ETFs to October 16, and the 21Shares Core XRP Trust to October 19. The SEC has typically taken full review periods, repeatedly extending deadlines for applications rather than granting early approvals or rejections.