Golden Finance reports that the U.S. Securities and Exchange Commission (SEC) has recently taken action and postponed the decision on the Hedera ETF application submitted by Canary Capital. This news has drawn widespread attention from the cryptocurrency market and the financial investment sector.
In the approval process of cryptocurrency ETFs, the SEC has always maintained a cautious attitude. In the past, the SEC has repeatedly postponed its decisions on applications for various cryptocurrency ETFs. For instance, on October 18th, the SEC once again postponed its decision on spot Ethereum ETF options, extending the ruling deadline from October 19th to December 3rd, and stated that it needed more time to deliberate on the relevant application proposals. This time, regarding the Hedera ETF application submitted by Canary Capital, the SEC also chose to delay making a decision, and the specific reasons have not been disclosed yet.
Hedera, as an emerging distributed ledger technology, has made its mark in the cryptocurrency field. Its unique consensus mechanism and technical architecture have attracted the attention of many investors. The Hedera ETF application submitted by Canary Capital aims to provide investors with a more convenient and compliant way to participate in the investment of the Hedera ecosystem. However, when the SEC reviews crypto asset ETFs, it usually intensifies its scrutiny on aspects such as market manipulation, the security of asset custody, and transparency. For crypto assets like Hedera with relatively small market capitalization, their low liquidity and potential market manipulation risks are highly likely to become important factors hindering the approval of ETF applications.
Professionals in the cryptocurrency market and the financial investment industry have expressed their views on the SEC’s decision to postpone this time. Some analysts believe that although the SEC’s cautious attitude has to some extent curated the rapid development of cryptocurrency ETFs, in the long run, it helps maintain market stability and protect the interests of investors. However, some insiders have pointed out that the long review cycle and uncertainty may undermine investors’ confidence in cryptocurrency ETFs and hinder the integration process of the cryptocurrency market with traditional financial markets.
Subsequently, when the SEC will give the final ruling on the Canary Hedera ETF application and what kind of impact this decision will have on the Hedera ecosystem and even the entire cryptocurrency market will all become the focus of market attention. We will also keep a close eye on the relevant developments and bring you the latest news.
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