- The SEC has postponed decisions on Grayscale Cardano and Canary Pudgy Penguins ETFs to October 2025.
- Immediate market reaction saw PENGU‘s price drop by 12.65%.
- Decisions reflect ongoing regulatory scrutiny of crypto ETF proposals.
The SEC has delayed decisions on Grayscale Cardano and Canary Pudgy Penguins ETFs until October 2025, due to concerns over market structure and investor protection.
The delay reflects heightened regulatory scrutiny, affecting ADA and PENGU prices, and underscores ongoing caution in U.S. crypto market access.
Main Content
The Grayscale Cardano ETF and Canary Pudgy Penguins ETF decisions are now pushed to October 2025. Regulatory scrutiny on crypto ETF proposals persists.
The delays involve Grayscale, the world’s largest digital asset manager, and Canary Capital Group, with ETF proposals hosted on NYSE Arca and Cboe BZX, respectively. Institutional interest remains despite ongoing postponements.
Historical trends show similar ETF delays often lead to temporary market volatility and asset price shifts.
Gary Gensler, Chair, SEC, “The Commission finds it appropriate to designate a longer period within which to take action on the proposed rule change…” – source
Institutional interest in spot ETF approvals highlights the demand for improved custody solutions and regulatory clarity in digital markets.
