The SEC’s Unpredictable Crypto ETF Roller Coaster Just Took Another Loop

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In a stunning display of bureaucratic efficiency, the SEC has decided to keep us all on the edge of our seats a little longer. As of Tuesday’s filings, the SEC has graciously given itself until mid-June to decide on Bitwise’s proposed Dogecoin ETF and Franklin Templeton’s XRP Fund, with fresh deadlines set for June 15 and June 17, respectively. Because, you know, why rush making a decision when you can keep the crypto world guessing for another couple of months? 🙄

Apparently, the SEC needs more time to “thoroughly evaluate” these proposals, which I’m sure means a lot of coffee breaks and ‘thoughtful consideration’ of how they can extend this saga. But don’t worry, folks, the agency insists this isn’t a case of procrastination. They just want to be super-duper careful when handling your digital assets. 🌐💸

The delays come at a time when the SEC is suddenly acting like it’s on the crypto bandwagon. Since the glorious reign of Gary Gensler ended and Paul Atkins took the helm, the SEC has been warming up to crypto like it’s a cozy sweater. Under Atkins, they’ve been putting on their best “we’re open-minded about digital assets” face, even expressing optimism about the future of the sector. Go ahead, Paul, keep telling us it’s all going to be okay while we clutch our wallets. 🤷‍♀️

This new crypto-friendly vibe comes after last year’s landmark approvals, including the first-ever spot Bitcoin and Ethereum ETFs. Fast forward to 2025, and it’s basically a crypto free-for-all, with applications coming in for everything from Solana to Hedera to, yes, Dogecoin. You can’t throw a rock without hitting a new crypto ETF proposal. 🪙

But wait, there’s more! Not only are Dogecoin and XRP ETF decisions delayed, but the SEC also decided to put a pin in proposals related to Ethereum staking and a broader crypto index ETF, both from Franklin. Because why not add more things to the pile, right? Meanwhile, Nasdaq threw its own hat into the ring by filing a new application to list 21Shares’ Dogecoin ETF. Why settle for one Dogecoin ETF when you can have a whole buffet of them? 🍔

With the deadlines stacking up like the world’s most confusing calendar, analysts like Bloomberg’s James Seyffart say we’re in for more delays this week. Apparently, the SEC is still trying to work through its ever-growing crypto ETF backlog, one caffeinated decision at a time. ☕🚀

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2025-04-30 07:35