Overview

• The SEC set a new November 8, 2025 deadline after prior postponements this year as it continued soliciting public feedback.
• The applications under review are Canary’s spot Hedera fund and Grayscale’s Polkadot ETF, which seek listings on Nasdaq.
• Analysts remain upbeat, with Bloomberg’s team citing roughly 90% approval odds and James Seyffart saying the funds look ready within the next couple of months.
• Backers note that DOT and HBAR have regulated futures markets, a feature that could meet the surveillance and manipulation safeguards used in Bitcoin and Ethereum ETF approvals.
• Market reaction was muted, with Hedera edging higher and DOT roughly flat to slightly up alongside reports of heavier trading volume.