The Securities and Exchange Commission, that august body of regulatory perfection, has deigned to postpone its decision on those terribly vulgar XRP and Dogecoin ETFs. Filings from Grayscale Investments and 21Shares, those titans of modern finance 🙄, are now languishing in the SEC’s in-tray, as the regulator requires yet more time to ascertain whether these products align with the quaint notion of investor protection under the Exchange Act. One shudders to think what horrors might befall the unsuspecting public should these altcoins be unleashed upon them. 😩
While these delays are not, strictly speaking, rejections, they do rather suggest the SEC’s somewhat jaundiced view of altcoins. The new decision deadlines are, with exquisite precision, set for mid-June, extending a veritable tapestry of ETF deferrals that also includes a pending Solana ETF application from 21Shares and Bitwise. One can only imagine the paperwork involved! 😫
The proposed XRP fund, submitted with a flourish in February, aims to provide institutional players with access to Ripple’s token via Cboe’s BZX Exchange. A noble cause, no doubt. Meanwhile, Grayscale’s Dogecoin ETF request follows its earlier DOGE Trust product and is part of the firm’s broader, and possibly misguided, push to expand spot crypto ETFs beyond Bitcoin and Ethereum. The audacity! 😒
Despite these regulatory holdups, which one might have expected to send these currencies plummeting into the abyss, both Dogecoin and XRP have actually seen minor price upticks. XRP recently traded at $2.355, up a staggering 1.66% in 24 hours, while DOGE held firm at $0.2264 with a 0.75% gain, according to CoinMarketCap. Market watchers, those tireless souls, continue to eye these developments as potential fuel for a broader altcoin rally later this year. One holds one’s breath. 😐
Bloomberg ETF analyst James Seyffart, a man of undoubted perspicacity, has commented that such delays are, in fact, par for the course, particularly where altcoins are concerned. While some approvals may, conceivably, arrive as soon as June, he emphasized that the SEC often avails itself of the full review period granted under its rules. How very thorough! 🧐
The crypto community, a collection of optimists and eccentrics, is also watching SEC Chair Paul Atkins’ tenure with considerable interest. Known for a progressive stance on digital assets, his leadership could, possibly, prove pivotal in moving altcoin ETFs closer to regulatory acceptance. A glimmer of hope, perhaps? 🙏
Read More
- Gold Rate Forecast
- Tom Cruise Bags Gold: Mission Impossible Star Lands Guinness World Record for Highest Burning Parachute Jumps
- Mobile MOBA Games Ranked 2025 – Options After the MLBB Ban
- Are Billie Eilish and Nat Wolff Dating? Duo Flames Romance Rumors With Sizzling Kiss in Italy
- Tom Hiddleston and Wife Zawe Ashton Announce Second Pregnancy, Know Couple’s Relationship Timeline
- Is Justin Bieber Tired of ‘Transactional Relationship’ with Wife Hailey Bieber? Singer Goes on Another Rant Raising Concerns
- Justin Bieber Tells People to ‘Point at My Flaws’ Going on Another Rant, Raises Alarm With Concerning Behavior
- Resident Evil 9: Requiem Announced: Release Date, Trailer, and New Heroine Revealed
- Summer Game Fest 2025 schedule and streams: all event start times
- Apothecary Diaries Ch.81: Maomao vs Shenmei!
2025-05-21 10:03