The U.S. Securities and Exchange Commission (SEC) recently announced that it will postpone its approval decisions on Bitwise's DOGE ETF and Grayscale's Hedera ETF until November 12. Both applications are currently still under review, reflecting the regulatory body's cautious attitude toward Crypto Assets ETF products.

Bitwise's DOGE ETF application was initially submitted in March of this year and was officially published in the Federal Register on March 17, starting the statutory review process. Meanwhile, Grayscale's Hedera ETF listing application also faced a similar fate, extended to mid-November.

It is worth noting that Grayscale has also updated the application documents for its long-operating Litecoin and Bitcoin Cash trusts. The company aims to convert these trust products into exchange-traded funds (ETFs). If successfully transformed into ETFs listed on a national exchange, this would allow for daily share subscriptions and redemptions, helping to bring the product price closer to its net asset value and reducing the common high premiums or significant discounts seen in over-the-counter trading.

The SEC's series of delays highlights the uncertainty in the application process for shitcoin ETFs. Since 2025, the number of applications for shitcoin ETFs has surged, resulting in the SEC facing an increasing number of pending cases. This backlog not only reflects the cautious attitude of the regulatory authority but also embodies the contradiction between the rapid development of the Crypto Assets market and regulation.

As the digital asset market matures, investors and industry participants are closely monitoring the SEC's developments. The regulatory decisions will have a significant impact on the future development of Crypto Assets ETFs and will also shape the entire digital asset investment ecosystem. Despite the lengthy and complex approval process, the industry generally believes that compliant Crypto Assets ETFs will eventually emerge, providing investors with more diversified investment options.