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SEC Delays Polkadot ETF Decision Again, Final Verdict in November 2025
The U.S. Securities and Exchange Commission (SEC) delayed its ruling on the 21Shares Polkadot (DOT) Spot Exchange-Traded Fund (ETF). The ruling, due by June 24, 2025, has now been pushed back to November 8. This delay is part of a broader trend as the SEC still seems to be deliberating cautiously on several crypto-related ETFs.
SEC Still Not Confident About Crypto ETFs
The 21Shares Polkadot ETF plans to list on the Cboe BZX Exchange, while Coinbase will serve as the custodian of these tokens. The SEC, however, is taking longer to examine the risks associated with cryptocurrency investments before coming to a final decision.
This is not the first postponement. Last week, the SEC also postponed its ruling on Grayscale's Polkadot ETF proposal, originally submitted on June 11. Now, 21Shares and Grayscale both have to wait until November for a potential go-ahead.
The SEC has been taking the reviews of not only DOT but also other altcoins ETFs such as XRP, Litecoin (LTC), Solana (SOL), and Dogecoin (DOGE) on a case-by-case basis. The agency contends that it requires additional time for public comments and thorough analysis.
DOT Price Rises Despite Delays
Interestingly, Polkadot's price increased about 7% even after the delay news. Market analysts say this increase may be a result of the ceasefire of Iran and Israel war that has left investors in a positive sentiment. Bitcoin also rallied above $106,000, propelling sentiment in the broader crypto market.
The price jump in DOT indicates that most investors continue to have faith in the long-term value of this cryptocurrency. Some even consider the ETFs delay a small speed bump on the path to eventual approval. Currently the price is $3.42 with an increase of 0.86% within the last 24 hours. It holds the market cap of $5.44 Billion as per the CoinMarketCap. 

Source: CoinMarketCap
Analysts Believe High Odds of Approval
Leading Bloomberg analysts Eric Balchunas and James Seyffart are optimistic about the possibility of crypto ETFs approvals. They indicate that the SEC is taking very proactive and engaged approaches, which is positive.

Source: Eric Balchunas X Handle
Seyffart recently stated there's a 90% or better chance that a number of crypto ETFs, such as DOT, would be approved. He further stated that while final approval may not occur until late 2025, overall, the direction is positive.
21Shares Seeks U.S. Approval for DOT ETF
21Shares filed this Polkadot ETF on 31 January 2025. They are no stranger to listing crypto investing products. Previously, in 2021, the firm launched the first Polkadot ETP on Switzerland's SIX exchange. Now, they are looking to introduce a similar product in the U.S. market.
If the ETF is approved, it may bring in additional institutional investors to this crypto. But if demand isn't good, the ETF might be withdrawn later on. It just depends on how well the product takes, as well as how easy it is to integrate into U.S. regulations.
What's Next?
With the SEC's ruling held off until November, investors and crypto observers will be watching closely. Although no one knows for sure, the analysts' optimism and the DOT price spike indicate that most believe this Exchange Traded Funds still has a good shot at becoming a reality.

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Why Crypto Market is Going Up: Trump Tax Cut Plan, ETF Momentum Boost
The international crypto market is in good momentum today, with a market cap of $2.99 trillion, a 1.28% increase over the last 24 hours. Trading volume has also increased, with the overall volume reaching $73.15 billion, a significant 19.96% increase. DeFi trading accounted for approximately $6.14 billion, contributing 8.39% to the day's total. Stablecoins, on the other hand, were the leaders, accounting for more than 90.68% of all trading volume. Bitcoin's dominance fell slightly to 63.20%, indicating that altcoins are also gaining investor attention.
Investors are carefully observing these day-to-day market fluctuations, waiting for the perfect time to get in or make changes to their positions.
Why Crypto Market is Going Up?
Trump’s Big Tax Plan: Former U.S. President Donald Trump proposed cutting or even removing federal income taxes. Instead, he plans to use money collected from new trade tariffs. In his post on April 27, Trump said this move would mostly help people earning under $200,000. 

Source: Truth Social
He called it a “bonanza for America” and explained that this would create a new “External Revenue Service.” The idea of lower taxes has made many investors hopeful about a stronger U.S.economy, which often lifts risky assets like crypto.
Robust Bitcoin and Ethereum ETF Flows: Bitcoin and Ethereum spot ETFs continue to be drawing massive investments. As of April 25:
Bitcoin ETFs brought in $379.99 million worth of daily net inflows. The overall net inflow for Bitcoin ETFs is now at $38.43 billion, which covers around 5.80% of Bitcoin's market cap.

Source: SoSoValue
Ethereum ETFs also performed well, adding $104.16 million in a day, with a cumulative inflow of $2.40 billion, about 2.83% of Ethereum’s total value.
Investors see ETF growth as a positive sign for the future price prediction of Bitcoin and Ethereum.
SEC Approves XRP Futures ETFs: Another significant thrust came when the U.S. SEC approved the listing of ProShares Trust for listing XRP futures ETFs, which would begin trading from April 30, 2025. Products are leveraged and inverse with tracking against the Ripple Index. While ProShares’ spot ETF application is still pending, the news of futures ETFs alone has already created excitement. Earlier this month, Hashdex also launched the first-ever spot Ripple ETF in Brazil.
Fear and Greed Index Moves to Neutral: The crypto Fear and Greed Index today shows a neutral score of 54. This is a big change from last week’s fear level of 39 and last month’s even lower fear score of 26. A neutral sentiment suggests that the market is currently balanced, with neither extreme fear nor excessive greed.

What Could Happen Next?
Though the current crypto market appears good, some future events may turn the tide:
CPI Data April 30: The release of new inflation figures will provide investors with a better sense of the health of the economy.
Final Tariff Move by Trump: Investors are closely following Trump's next detailed move on tariffs and taxes.
Increased ETF Approvals: Increased ETF approvals, particularly for Bitcoin, Ethereum, and potentially XRP, would see more new money entering the crypto space.
Conclusion
Though the current data presents a bullish short-term scenario, experts are cautioning investors to do their homework before making any action. Volatility is still high, and price fluctuations may be steep as global financial conditions change. Strategic planning and patience may be the way to go as the next big prediction cycle plays out in the crypto space.

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