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- SEC sets November 12, 2025 deadline for Dogecoin ETF.
- Public concerns include volatility and liquidity.
- Grayscale Hedera ETF delayed alongside Dogecoin fund.
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The U.S. Securities and Exchange Commission (SEC) has extended its review of the Bitwise Dogecoin ETF, setting a new deadline of November 12, 2025. This decision follows an earlier delay in June, as the regulator initiated a formal probe into the proposed fund. Originally filed by NYSE Arca in March under commodity-based trust rules, the ETF was initially scheduled for a September 13 decision after the standard 180-day review. The SEC cited the need for additional time to evaluate public feedback and assess potential market concerns.
🇺🇸 TODAY: The SEC delays decision on Bitwise Dogecoin ETF and Grayscale Hedera ETF, with new deadline set for November 12. pic.twitter.com/DVPxROplTH
— Cointelegraph (@Cointelegraph) September 10, 2025
Increased Scrutiny Around Dogecoin ETF
The Dogecoin ETF has attracted both attention and skepticism. Public comments highlighted concerns over liquidity, market volatility, and potential manipulation. Critics have also questioned whether Dogecoin, a meme-based cryptocurrency, is sufficiently backed to support a regulated investment product.
Historically, the SEC has approached crypto-related ETFs with caution, rejecting multiple applications before approving spot Bitcoin ETFs in early 2024 and later extending approvals to Ethereum-based products. Advocates argue that Dogecoin’s strong community and high liquidity could offer retail investors broader access to the crypto market, while skeptics warn about heightened risk exposure.
Grayscale Hedera ETF Faces Parallel Delay
The SEC simultaneously postponed its decision on Grayscale’s Hedera ETF, which also now carries a November 12 deadline. Grayscale filed the proposal in March via Nasdaq to convert existing crypto trusts, including Litecoin and Bitcoin Cash, into ETFs. These conversions could move products to national exchanges, potentially narrowing price premiums and aligning values with net asset values. Grayscale previously made history by transforming its Bitcoin Trust into the first U.S. spot Bitcoin ETF in 2024.
Also Read: Dogecoin ETF Launch Ignites Memecoin Rally Ahead of Q4
Altcoin ETF Applications Continue to Surge
Crypto ETF interest is growing rapidly. By July 31, 31 altcoin ETF applications had been submitted, including proposals for XRP, Solana, Avalanche, and BNB. By late August, 92 crypto ETF products awaited SEC decisions, with Solana and XRP leading the pack. The SEC has utilized the full review period for nearly all filings, signaling thorough scrutiny. Approval of the Dogecoin ETF could pave the way for meme-based funds in U.S. markets, potentially influencing future altcoin ETF applications.
The extended review underscores the SEC’s careful approach to crypto ETFs, balancing market innovation with investor protection. The outcome of the Bitwise Dogecoin ETF will be closely watched, not just for its impact on Dogecoin but for the broader altcoin ETF landscape.
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Disclaimer: The information in this article is for general purposes only and does not constitute financial advice. The author’s views are personal and may not reflect the views of Chain Affairs. Before making any investment decisions, you should always conduct your own research. Chain Affairs is not responsible for any financial losses.
I’m your translator between the financial Old World and the new frontier of crypto. After a career demystifying economics and markets, I enjoy elucidating crypto – from investment risks to earth-shaking potential. Let’s explore!
