It is a truth universally acknowledged, that a government agency in possession of cryptocurrency ETF applications must be in want of a considerable delay. 🕰️
Word has reached the county that the esteemed Securities and Exchange Commission—whose virtues are matched only by its fondness for paperwork—has chosen, with almost theatrical deliberation, to withhold judgement upon two such suitors: one for the infamous XRP, the other for Dogecoin, that canine darling of the ton.
The modest proposal for the DOGE exchange-traded fund hails from Bitwise, whose audacity is second only to its timing; whilst the XRP fund, adorned with the respectable lineage of Franklin Templeton, made its debut during the blossoming of March.
Alas, the carriage of progress has been instructed to proceed at a most genteel pace. The DOGE ETF will linger in expectation until the fifteenth day of June, and the Ripple-inspired companion shall wait—undoubtedly anxious—until the seventeenth, as determined with infinite civility by the Commission.
“The Commission,” runs the text (in prose as rich as a Miss Bingley epistle), “finds it appropriate to designate a longer period within which to take action, for the matters are indeed weighty, and the tea must first be poured and taken.”
Henceforth, the deliberation, by Act and all the trappings thereof, is extended to June 17th, giving both approval, disapproval, and, naturally, the opportunity for further protracted suspense. ‘Tis File No. SR-CboeBZX-2025-040, if you fancy such particulars for your next ballroom whisper.
Miss Eleanor Terrett, of the Fox Business neighbourhood—well-renowned for her keen sense and ETF gossip, bless her—has, upon consulting Mr. James Seyffart (whose expertise on these matters is rivalled only by Lady Catherine’s opinions on pianoforte), remarked that these dates are, to say the least, but warm-ups. The true verdicts, it appears, are destined for a later quarter—October festivities, perhaps, if fate allows.
“Upon consultation with Mr. JSeyff, a gentleman of no ordinary intellect: These dates, like so many drawing-room invitations, are but intermediates; the principal event, we expect, is reserved for the autumn, should society remain interested.”
— Eleanor Terrett (@EleanorTerrett), 29th April, 2025
Further anxieties are lent to this maelstrom by Wu Blockchain, who has broadcast with relentless zealousness that not only XRP and DOGE but also Solana and Hedera ETFs have been banished from the assembly—delayed, as it were, until the agency recovers from its latest round of fainting spells.
Of particular note: the XRP ETF’s cold reception took place mere days after the Commission extended its blessing to three ProShares funds of a futuristic bent, amid much fanfare (and no small number of erroneous reports). Contrary to initial reports of an April 30 debut, the latest intrigue places the coming-out of these funds on May 14. Expect more waltzing, less resolution. 👒📈
One can only hope these ETFs possess the patience—and the bonnets—to withstand such a protracted courtship.
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2025-04-29 21:30