The SEC has postponed the approval of Bitwise and Grayscale crypto ETFs until November

The Securities Exchange Commission (SEC) has postponed decisions on the Bitwise Dogecoin ETF and Grayscale Hedera ETF until November 12, while the applications remain under review.
On Tuesday, the SEC pushed back the deadline for a proposal to list the Bitwise Dogecoin ETF filed by NYSE Arca. The application, originally filed in March and published in the Federal Register on March 17, opened the statutory review period. On the same day, the SEC also extended its review of the Hedera ETF filing by Grayscale, setting the same November deadline.
At the same time, Grayscale updated the applications of its long-running Litecoin and Bitcoin Cash trusts, seeking to convert them from trust products to ETFs. A successful conversion to an ETF listed on a national exchange would allow for daily share subscriptions and redemptions, bringing prices closer to net worth and reducing the high premiums and discounts that are common over the counter (OTC). The SEC's delay highlights the uncertain path of counterfeit products ETFs, which have seen a surge in counterfeit products ETF applications since 2025, leaving the SEC facing a growing backlog.