Altcoin ETF summer in limbo as SEC hits pause on DOGE, HBAR, and AVAX filings

The U.S. Securities and Exchange Commission (SEC) has hit the pause button on several crypto exchange-traded fund (ETF) proposals, putting approval in doubt. According to filings published this week, the SEC is delaying its decision for three ETF proposals, including Dogecoin, Hedera, and Avalanche. The ETFs, filed respectively by Bitwise , Grayscale , and VanEck earlier this year, aim to launch spot ETFs backed directly by DOGE ( DOGE ), HBAR ( HBAR ), or AVAX ( AVAX ), which would offer investors regulated access to the assets if approved. You might also like: Why memecoin ETFs may be next in line, according to analysts However, the SEC stated it needs more time to assess the proposals. Citing concerns around investor protection and market integrity, the regulatory commission noted it is opening proceedings to allow for further analysis of whether the ETF s meet legal standards. “Institution of proceedings does not indicate that the Commission has reached any conclusions with respect to any of the issues involved,” the releases read. “Rather, the Commission seeks and encourages interested persons to provide comments on the proposed rule change.” While not an outright rejection, the SEC’s move contrasts sharply with industry expectations. Earlier this week, Bloomberg analyst James Seyffart placed odds of approval for each of the assets around 75% to 80%, fueled by reports of positive engagement among the commission and issuers. I wrote about this topic a bit today as well. Can be read at this link here if you’re a Bloomberg Terminal Client: https://t.co/Tl3XfNq2Am pic.twitter.com/jAQ048Ewdr — James Seyffart (@JSeyff) June 10, 2025 The regulatory decision quickly rippled through the markets, dampening investor sentiment and triggering a sell-off across the three tokens. AVAX recorded the biggest loss, falling 12.5% from around $21.25 to $18.60 in a matter of hours. HBAR followed with an 11.5% slide, dropping from $0.1708 to $0.1512. Despite being the least affected of the three, DOGE also dropped significantly, shedding 10.2% from $0.1906 to $0.1711. While all three tokens have shown minor recoveries since the initial dip, they remain in the red as uncertainty around ETF approval lingers. Read more: SUI TVL notches double-digit gains, eyes return to $2B as ETF whispers grow

Source: crypto.news