DOT ETF Approval Delayed as SEC Extends Review of Multiple Crypto Funds

In today’s Polkadot news, there has been a development regarding the progress of this DOT ETF. Based on this new statement for the US Securities and Exchange Commission, the decision to approve these funds will be delayed. In addition, it seems that the approval of most of the requested ETFs of various coins will be delayed. This development comes at a time when the Polkadot price has started a fresh climb today. The new surge in DOT price is caused by the market-wide rally, which has turned all cryptos green. 

Will June 11 Be a Turning Point for Polkadot’s ETF Journey?

Based on a new statement by the SEC, the decision-making process for the approval of exchange-traded funds will be delayed. These delayed approvals would have given institutions the permission to list Hedera and DOT ETFs. Such exchange-traded funds would have followed the spot value of the mentioned tokens, making them spot ETFs. The list of delayed ETFs also included a request for Bitcoin and Ethereum funds. The time limit for making the decision on the Nasdaq Exchange’s Canary HBAR ETF request is now extended to June 11. Similarly, the deadline for answering the Grayscale request to convert the Polkadot Trust has also been pushed back to this date. 

June 10 marks the end of the new time frame for answering the New York Stock Exchange request. This entity has submitted the request for the Bitwise Bitcoin and Ethereum ETF. These requests came in a batch of other ETF filings recently this year. The wave of proposals for launching ETFs came after the success of Bitcoin and Ethereum ETFs last year. The current count of pending crypto-related ETF proposals is now around 72. 

Are Crypto ETFs Exploding in 2025?

Based on an X post shared by Bloomberg Senior ETF Analyst Eric Balchunas, this year is a chaotic time for crypto ETFs. The stockpile of ETF proposals includes Solana, Cardano, XRP, Dogecoin, Litecoin, and Avalanche from Grayscale. The latest TRX filing from Canary includes staking benefits. The precious requests include funds that track the value of Solana, PENGU, and Sui. Lastly, there are also some proposals from Bitwise, which include ETFs that are based on DOGE and Aptos. Other than the industry giants, smaller traditional finance firms have also entered this space. 

There are now 72 crypto-related ETFs sitting with the SEC awaiting approval to list or list options. Everything from XRP, Litecoin and Solana to Penguins, Doge and 2x Melania and everything in between. Gonna be a wild year. Great roundup from @JSeyff pic.twitter.com/IHTqqxeH35

— Eric Balchunas (@EricBalchunas) April 21, 2025

One of the main driving forces behind the DOT ETF and many other discussed exchange-traded funds is Bitcoin ETFs’ success. The Grayscale Bitcoin Trust is now managing $18 billion, which puts it as the second Bitcoin ETF. Additionally, in the 11-spot Bitcoin ETFs of the US market, the Bitwise Bitcoin ETF ranks fifth. This fund, which was approved by the SEC last year, has $3.6 billion in AUM.

Is Polkadot Headed for a Bullish Surge or a Bearish Reversal?

The current Polkadot price action shows that this token has bounced from the $3.60–$3.80 support range, going upwards. As of now, the DOT price stands at $4.33, which represents a clear breakout from the previous consolidation price trend. There are also other bullish signs, such as the price action showing high highs and lows. This is a sign of a sustained uptrend, which is also supported by the increase in bullish trading volume.

DOT/USD daily chart, published on TradingView, April 25, 2025

As per the DOT/USD daily chart, the Relative Strength Index indicator is showing a 68 score, which is near the overbought zone. If the RSI climbs above 70 and reaches the overbought zone, the probability of a bearish reversal goes up. Another possible sign of the bullish trend cooling off or an incoming bearish movement is a divergence. If the yellow signal climbs above the RSI line, it creates a bearish crossover. The current ADX level of 26 shows that the trend strength is high. Because of this, the uptrend in Polkadot price is likely to continue for a while before a bearish move.

Is the Market Rally Shielding DOT from Bearish ETF News?

So, although the fundamental news regarding the DOT ETF was bearish today, the technicians remain bullish. However, the strength behind the current bullish trend is likely coming from the market-wide rally. As a result, investors should remain vigilant and monitor the market news for any development that could stop the market rally. Although the SEC decision will be announced in more than a month, market participants should still pay attention to Polkadot news. 

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