Gate News bot news, the SEC has postponed its decision on Grayscale’s applications for Avalanche and Cardano Spot ETF, extending the review period until July 15, 2025.
On March 27, 2025, Nasdaq submitted an application for the Avalanche ETF and sought to list and trade the Grayscale Avalanche Trust Fund under Nasdaq Rule 5711(d), which governs commodity trust shares.
The proposed rule change was published in the Federal Register on February 16, 2025, initiating the statutory review process. The initial 45-day decision period, originally set for May 31, 2025, has now been further postponed.
Additionally, Grayscale’s Cardano ETF application was submitted to the NYSE Arca on February 10, 2025, with plans to convert the existing Grayscale Cardano Trust into a Spot ETF.
The revised version of the document was submitted on February 20 and made public for public comment on February 28, officially starting a 240-day review period, with a deadline of October 22, 2025.
Given that the delay has been confirmed, the next key date in the approval process for the two ETFs is July 15, 2025, by which the SEC must approve, reject, or initiate further evaluation of the proposals.
During this period, the public consultation will remain open, and the SEC is actively seeking feedback on the application.
Source: crypto.news
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