New Development for Two Altcoin ETFs Applied by Canary and Grayscale: SEC Examined! - Coin Newsletter

The U.S. Securities and Exchange Commission (SEC) has officially accepted Canary Capital's ETFs (DOT) Hedera (HBAR) and Grayscale's Polkadot ETFs.

Nasdaq, one of the largest stock exchanges in the US, applied to the SEC in recent weeks for the listing of a Hedera (HBAR)-based spot ETF on behalf of investment company Canary Capital. Similarly, cryptocurrency asset management giant Grayscale has requested official approval from the SEC for a Polkadot (DOT)-based ETF.

Both companies' applications were accepted by the SEC and entered the public comment process.

Grayscale, one of the major players in the cryptocurrency market, continues to expand its portfolio with its Polkadot (DOT)-focused ETF application. The company has previously attracted attention with its spot ETF applications for XRP and **Cardano (ADA)****. In particular, the SEC's recent positive approach to cryptocurrencies increases the likelihood that the Polkadot ETF application will be accepted.

According to Bloomberg analysts, the applications for the Litecoin (LTC) and Hedera (HBAR) ETF** are shown as the closest altcoin ETFs to the SEC's approval. On the other hand, Polkadot's ETF approval could significantly increase market visibility and make it easier for investors to access the asset.