The SEC has extended its review of HBAR and DOT ETFs as it prepares for upcoming generic listing standards.
The U.S. Securities and Exchange Commission (SEC) has once again delayed decisions on two altcoin exchange-traded funds (ETFs): Canary HBAR and Grayscale Polkadot (DOT).
As per the latest filing, the regulator extended the period to approve or disapprove both ETFs by an additional 60 days, setting November 8 as the new deadline.
Analysts speculate that the SEC may be holding off on new approvals until it launches the updated generic ETF listing standards.
The SEC had previously delayed approval of the Canary spot HBAR ETF twice, in April and June, seeking more feedback. The ETF was originally proposed by Nasdaq in February and began its 180-day review period on March 13.
Similarly, the Grayscale Polkadot ETF has been pushed back twice before, now also extended to November 8.
Approval Odds and Market Reactions
Despite the delays, market analysts remain optimistic. Bloomberg’s senior analysts maintain a 90% likelihood of ETF approval in the near term.
Last week, James Seyffart stated that HBAR HBAR $0.22 24h volatility: 1.3% Market cap: $9.51 B Vol. 24h: $218.91 M and DOT DOT $4.01 24h volatility: 1.0% Market cap: $6.11 B Vol. 24h: $346.90 M ETFs, along with others, are “pretty much ready to go” in the next couple of months.
Will Crypto ETF Flows Trigger the Next Altseason? w/ @Bloomberg Senior Analyst @JSeyff $BTC had its ETF moment.
Now $ETH getting one.
But what happens when $SOL, $XRP, and $DOGE get theirs?
James explains the ETF roadmap and who’s already first in line.
Tune in to know more… pic.twitter.com/dflaAYWofb
— Milk Road (@MilkRoadDaily) September 4, 2025
DOT and HBAR are supported by regulated futures markets, which increases their chances of approval if the SEC maintains the same approach it used for Bitcoin BTC $111 455 24h volatility: 0.2% Market cap: $2.22 T Vol. 24h: $38.24 B and Ethereum ETH $4 296 24h volatility: 0.3% Market cap: $518.70 B Vol. 24h: $28.04 B .
Crypto analysts are forecasting over 100% upside, with potential targets of $0.50 and even $1 if the ETF gets approved.
On the other hand, DOT has recorded a 4% daily gain on Monday, trading around $4. The cryptocurrency has seen a 233% surge in its 24-hour trading volume.
Generic Listing Standards Underway
The SEC’s delay is believed to be linked to its ongoing collaboration with major exchanges like Nasdaq, NYSE, and CBOE BZX to finalize generic listing rules for new crypto ETFs. ETF Institute co-founder, Nate Geraci, expects the rules to be finalized by early October.
The SEC’s cautious approach suggests its effort to ensure regulatory alignment as crypto products see massive adoption.
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