SEC Delays HBAR ETF Decision Again – November 2025 🐦⏳

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After months of regulatory ping-pong, the SEC has finally decided that the fastest way to make a decision is to pretend it doesn’t exist. The agency has granted itself until November 8, 2025, to resolve the fate of the Canary HBAR ETF, which is now trapped in a bureaucratic black hole where time exists only as a suggestion.

Originally submitted by Nasdaq in February, the ETF proposal was a valiant attempt to navigate the SEC’s labyrinthine Rule 5711(d). By March, the application had been revised, then published for public comment like a cryptic scroll in a wizard’s library. The public, naturally, responded with a mix of confusion and existential dread.

The SEC’s subsequent extensions-April, June, and now November-have become less about due diligence and more about a cosmic game of regulatory hot potato. Under Section 19(b)(2) of the Securities Exchange Act, the agency now claims it needs “sufficient time” to assess… things. Who knows what “things” are, but they’re probably written in hieroglyphics on a moon.

Broader implications for crypto ETFs

If the Canary HBAR ETF somehow escapes this bureaucratic void, it could become a rare bird in the U.S. crypto ETF ecosystem. Imagine a world where HBAR isn’t just a token but a tradable asset! The implications are staggering, like a toaster learning to fly. However, the SEC’s indecision has turned the approval process into a waiting game where the prize is a regulatory stamp of approval that might as well be invisible.

Meanwhile, other crypto ETF hopefuls-like Grayscale’s Ethereum Trust and VanEck’s Solana pitch-are stuck in the same bureaucratic purgatory, where the only thing growing is the collective frustration of the crypto community. The SEC’s latest delay isn’t just a pause; it’s a full-blown existential crisis for altcoin-linked financial products, which now exist in a state of limbo between hope and despair.

Canary’s HBAR ETF has become a Rorschach test for U.S. regulators: Do they see a path forward for altcoins in traditional finance, or just a convenient excuse to keep things frozen in time? The answer, of course, is already written in the stars-or at least in the SEC’s internal memos, which are likely encrypted in a language that only exists in their heads.

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2025-09-08 20:01