The US SEC has delayed decisions on two Grayscale exchange-traded fund (ETF) applications. Investors will have to wait longer for a spot Avalanche and Cardano ETF, with the SEC continuing its streak of delays.
SEC Delays Grayscale’s Avalanche & Cardano ETFs
According to an SEC release, the Commission confirmed its decision to push back its decision on Grayscale’s Avalanche and Cardano ETFs. Per the release, the SEC is opting to delay Grayscale’s attempt to convert its Avalanche Trust into a spot ETF review.
On the other hand, the SEC says it requires more time to probe the viability of Grayscale’s Cardano ETF filing. Grayscale filed for an ADA ETF early in the year, with the SEC acknowledging the filing, effectively launching a 240-day review period.
As the first decision deadline inched closer, Cardano ETF approval odds reached an all-time high. Decentralized prediction market platform Polymarket pegged the odds at 71% despite a wave of previous SEC delays.
This is a developing story and will be updated as more facts emerge.
Aliyu Pokima
Aliyu Pokima is a seasoned cryptocurrency and emerging technologies journalist with a knack for covering needle-moving stories in the space. Aliyu delivers breaking news stories, regulatory updates, and insightful analysis with depth and precision. When he’s not poring over charts or following leads, Aliyu enjoys playing the bass guitar, lifting weights and running marathons.
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