SEC Halts Altcoin ETFs Amidst Investor Protection Concerns

The U.S. Securities and Exchange Commission (SEC) has put the brakes on several crypto exchange-traded fund (ETF) applications, leaving the future of spot cryptocurrency products in limbo. The SEC’s decision impacts proposals for DOGE, HBAR, and AVAX ETFs from Bitwise, Grayscale, and VanEck respectively. These filings aimed to bring regulated access to these assets via directly backed ETFs if approved by the SEC.