SEC Postpones Decision on VanEck Avalanche ETF, Seeks More Comments

The U.S. Securities and Exchange Commission has extended its review period for the proposed VanEck Avalanche ETF. This delay adds to a growing list of pending altcoin ETF applications under the agency's new leadership.

The U.S. Securities and Exchange Commission has extended its review period for the proposed VanEck Avalanche ETF, adding to a growing list of pending altcoin ETF applications.

The Commission now has until July 28 to approve, reject, or begin disapproval proceedings on the ETF product, which was filed by the Nasdaq Stock Market on behalf of VanEck.

The proposal, which is for a trust share ETF to be listed on the Nasdaq exchange, was originally due to be decided upon by June 13. However, the SEC opted to postpone the decision in order to allow more time for evaluation.

“The Commission may grant an extension of 45 days of the 45-day period, beginning on April 9, 2025, for determining whether to approve or disapprove the application,” the SEC stated in its notice.

“This would extend the time period for the Commission to approve or disapprove the application, or institute proceedings to disapprove the application, to July 28, 2025.”

The application is still active and can be viewed on the SEC’s website. The Commission did not indicate any conclusions on the matter but opened the floor for public comment, a standard procedure for major financial product proposals.

Commenters can address potential risks posed by the ETF or highlight its potential to support market innovation in new asset classes.

In addition to Avalanche, the SEC also postponed decisions on several Bitwise Dogecoin ETF proposals. Bitwise is seeking to offer a spot DOGE ETF that would track the token’s price performance in U.S. markets.

This product, and several other altcoin ETFs, are pending response from the SEC. The deferrals come as the agency progresses with a cautious tone under the new leadership of chair Paul Atkins.

Since assuming the role in April, Atkins has outlined a focus on increasing clarity in digital asset regulation.

While firms await crucial approvals, the SEC is requesting updated filings. Bitwise and other issuers are actively responding to agency feedback and adjusting documents as needed.

However, these postponements create uncertainty for both sponsors and investors, with each delayed decision highlighting the complexity of launching altcoin ETFs in the rapidly evolving regulatory landscape.