The SEC has delayed decisions on the Bitwise Dogecoin ETF and the Grayscale Hedera ETF, setting a new review deadline of November 12, 2025, to allow additional review under Section 19(b)(2) of the Securities Exchange Act. Markets and issuers will await the Commission’s final orders before that date.
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New deadline set to November 12, 2025
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SEC invoked Section 19(b)(2) to extend review and coordinate evaluations.
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Both Bitwise Dogecoin ETF and Grayscale Hedera ETF reviews now align under the extended schedule.
Meta description: Bitwise Dogecoin ETF and Grayscale Hedera ETF delayed by the SEC to Nov 12, 2025. Read the latest regulatory update and next steps. Learn more.
SEC delays decisions on Bitwise Dogecoin and Grayscale Hedera ETFs, setting a new review deadline for November 12, 2025.
- SEC extends the review period for the Grayscale Hedera ETF, providing additional time to evaluate the proposed rule change thoroughly.
- The Bitwise Dogecoin ETF review now aligns with the new SEC deadline, ensuring simultaneous evaluation of both cryptocurrency-based proposals.
- The Commission cites Section 19(b)(2) authority, confirming November 12, 2025, as the final date to approve or disapprove filings.
The SEC has postponed its decision on the Bitwise Dogecoin ETF and the Grayscale Hedera ETF, setting a new deadline of November 12, 2025.
What is the SEC’s new deadline for the Bitwise Dogecoin ETF and Grayscale Hedera ETF?
The SEC’s new deadline is November 12, 2025. The Commission extended the initial review period and invoked Section 19(b)(2) of the Securities Exchange Act to set this final date for approval or disapproval of both the Bitwise Dogecoin ETF and the Grayscale Hedera ETF.
How did the review timeline evolve?
Nasdaq filed the Grayscale Hedera Trust application on February 28, 2025, under Nasdaq Rule 5711(d). The first Federal Register notice was published on March 17, 2025. The Commission’s original 180-day review period would have ended on September 13, 2025, but the SEC instituted proceedings on June 12, 2025 and added an extra 60 days.
The Bitwise Dogecoin ETF was on a parallel review track and now follows the coordinated November 12, 2025 deadline. The Commission delegated aspects of the review to the Division of Trading and Markets while reserving final action authority.
Why did the SEC invoke Section 19(b)(2)?
The SEC cited Section 19(b)(2) of the Securities Exchange Act to allocate additional time for a thorough review. This statutory mechanism allows the Commission to issue an order within 180 days or extend that period by up to 60 days, ensuring complex rule change proposals receive full consideration.
What are the implications for issuers and markets?
Issuers will continue to engage with the Commission and may submit supplemental materials. Markets should expect increased regulatory scrutiny during the extended review period. The delay does not equate to denial; it reflects the Commission’s cautious approach to new crypto-related exchange-traded product listings.
Frequently Asked Questions
When was the Grayscale Hedera Trust filing submitted?
Nasdaq filed the proposed listing for the Grayscale Hedera Trust on February 28, 2025, under Nasdaq Rule 5711(d), which covers Commodity-Based Trust Shares.
Does the extension indicate the SEC will reject the ETFs?
No. An extension signals additional review, not a predetermined outcome. The SEC frequently extends review periods for complex filings to gather more information and assess market and regulatory considerations.
Key Takeaways
- Final date set: The SEC set November 12, 2025 as the final decision deadline for both ETF applications.
- Statutory basis: The extension relies on Section 19(b)(2) of the Securities Exchange Act to allow a fuller review.
- Market impact: The coordinated deadline aligns reviews and maintains regulatory oversight while issuers prepare for potential outcomes.
Conclusion
Regulatory review of the Bitwise Dogecoin ETF and the Grayscale Hedera ETF will continue through November 12, 2025, under Section 19(b)(2). The extension provides the SEC additional time to evaluate complex issues raised in both filings. Market participants and issuers should monitor filings and official notices from the Commission and COINOTAG for updates.
