SEC Pushes Back Decision on Grayscale’s Avalanche & Cardano ETFs — What’s Behind the Delay?

Updated

May 30, 2025

Gambar SEC Pushes Back Decision on Grayscale’s Avalanche & Cardano ETFs — What’s Behind the Delay?

Jakarta, Pintu News – The United States Securities and Exchange Commission (US SEC) has postponed its decision on the Grayscale spot ETF filings for Cardano and Avalanche , originally scheduled for May 29, to July 13, 2025.

However, the total duration of the process and the final decision date remain unchanged at 240 days with a deadline of October 22, 2025.

Cardano and Avalanche Spot ETF Final Decision Postponed to July 13

In an official release, the United States Securities and Exchange Commission (SEC) confirmed the delayed decision regarding Grayscale’s spot ETF filings for Avalanche and Cardano.

The SEC stated that it chose to defer its review of Grayscale’s application to convert Avalanche Trust into a spot ETF. Previously, as reported by Coingape, the SEC had recognized Grayscale’s Cardano Spot ETF filing on February 24, 2025.

On the other hand, the SEC mentioned that they needed additional time to evaluate the feasibility of Grayscale’s Cardano ETF filing. Grayscale applied for a change in structure from Cardano Trust to ETF earlier this year, and after official acknowledgment from the SEC, a 240-day evaluation period began.

Ahead of the early decision deadline, the chances of Cardano ETF approval had reached a high. Decentralized prediction platform Polymarket even listed the odds at 71%, despite several delays from the SEC.

However, this latest delay has dampened the optimism of some investors as the final approval date remains unclear. Looking ahead, the SEC is also opening the opportunity for the public to comment on the proposed changes.

What’s the Next Step?

hashdex proposes bitcoin and ethereum etf — Source: Crypto News Flash

The US SEC seems to be in the midst of a long trend of delaying spot crypto ETFs, which is starting to dampen the enthusiasm of investors.

One of the most recent, a spot XRP ETF filing by CoinShares, has also seen a delay, as the number of filings to review continues to grow.

The spot Bitcoin and Ethereum ETFs have also previously experienced two delays in the same 240-day period.

With that in mind, investors can still expect the final decision to be issued within the stipulated timeframe, despite a number of delays.

However, the SEC’s decision to delay the Cardano and Avalanche ETFs had a direct impact on the price of both assets. The price of Cardano (ADA) fell by almost 4% in the last 24 hours and was at $0.73 on May 29, 2025.

Daily transaction volume also recorded a 14% drop to $588 million, although Cardano’s transaction count did reach 50,000 during May.

Meanwhile, Avalanche (AVAX) is also under similar pressure. The price of AVAX fell by 2.52% in the last 24 hours (29/5), with daily transaction volume plummeting by almost 20%, following news of a delay from the SEC on ETFs related to Avalanche and Cardano.

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