SEC Delays Spot ETF Rulings for Canary and Grayscale Projects, Market Awaits Clarity

The regulatory landscape for cryptocurrency ETFs remains uncertain as the U.S. Securities and Exchange Commission (SEC) has delayed its decision timeline on two significant applications. Specifically, the Canary spot PENGU ETF and the Grayscale spot Cardano ETF have both faced postponements on their approval determinations.

The postponement reflects the SEC’s ongoing careful review process for digital asset spot ETF products. These delays, while potentially disappointing for project supporters and investors monitoring approvals, are part of the agency’s standard regulatory procedures as it evaluates each application’s compliance with securities laws and market protection standards.

Grayscale and Canary continue to await regulatory feedback, with the extended timeline adding further uncertainty to the crypto investment vehicle landscape. The decisions on these spot ETFs remain closely watched by the industry, as they could signal broader regulatory sentiment toward digital asset-based financial products. For now, stakeholders keep their focus on the SEC’s eventual determinations—much like screens set to grayscale mode, the path forward appears less vibrant until clarity emerges.

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