The U.S. Securities and Exchange Commission (SEC) has postponed its decision on the VanEck Spot Avalanche ETF to July 28, 2025, extending the review period beyond the original deadline of June 13. This delay is part of a broader regulatory backlog affecting several altcoin ETF proposals, including Bitwise's Dogecoin (DOGE) ETF and Grayscale's Hedera Trust (HBAR) ETF. The SEC’s cautious stance under its new leadership aims to gather more public comments and thoroughly assess these applications before approval, denial, or further actions.
The VanEck Avalanche ETF was submitted for listing on Nasdaq under Rule 5711(d), which pertains to commodity-based trust shares. Alongside Avalanche (AVAX), the SEC's delay impacts ETFs focused on Dogecoin and Hedera tokens, leaving these products in regulatory limbo. The Commission continues to request updated filings and encourages stakeholder feedback to better evaluate potential risks and market readiness.
This pattern of delays reflects the complexity and uncertainty of emerging altcoin ETF products in the current regulatory environment. Market participants await clearer guidelines and faster approvals, as the extended review timelines are seen as a hurdle to institutional growth and capital inflows in digital asset markets.