The U.S. Securities and Exchange Commission continues to review several major cryptocurrency ETF applications, with notable delays affecting market participants. Canary's PENGU token and T. Rowe Price's crypto-focused ETF proposals remain under examination, extending the timeline for potential approval. Meanwhile, the SEC has opened the comment period for Grayscale's options trading initiatives, signaling potential regulatory progress in this area. These regulatory movements reflect ongoing institutional interest in structured crypto investment products and the SEC's gradual approach to digital asset market infrastructure. Market observers are closely tracking these developments, as approvals could significantly expand accessible crypto exposure through traditional financial channels.