SEC’s Crypto ETF Circus: More Coins, More Rules, and a Dash of Sarcasm! 🎪📉

The “SEC’s Crypto ETF Circus: More Coins, More Rules, and a Dash of Sarcasm! 🎪📉”

The US Securities and Exchange Commission (SEC) has escalated its speed of approving crypto ETF filings. Faster than my grandma when there’s bingo night! According to submissions from Feb. 19 and 20 (2025, not some time-traveling stunt), the agency has been juggling half a dozen filings in two days. Either someone handed them espresso or their vacation is officially cancelled. ☕🏃

Crypto securities exchanges—like Nasdaq ISE and Cboe BZX—sent in their homework, politely asking the SEC to approve rule changes. These include fancy financial wizardry like staking, options, and in-kind redemptions. You know, all the stuff that regular folks nod to but really have no clue about. 🤷‍♂️📊

The SEC’s acknowledgment of these filings is like that kid who’s been grounded for years finally being allowed to play outside. Since Trump donned the Oval Office cape for the second time on Jan. 20, the agency has seemingly gone from “No, not ever!” to “Meh, okay, we’ll think about it.” Crypto analysts, aka fortune tellers in suits, are expecting more ETF approvals in 2025. Fingers crossed, fellas. 🤞

Flurry of Filings

Nasdaq’s filing involves everyone’s favorite financial buzzkill—limits. Specifically, limits on how much you can wiggle and jiggle with options tied to BlackRock’s iShares Bitcoin Trust (IBIT). This behemoth ETF is sitting on a cool $57 billion in assets, probably eating avocado toast while laughing at other ETFs trying to catch up. 🥑💸

Meanwhile, Cboe got cheeky and filed for options on Grayscale’s and Bitwise’s Ether (ETH) ETFs. But guess what? The SEC went, “Not yet, buddy,” approving Bitcoin (BTC) options but ghosting all Ether-based requests. Typical. 🙄👻

Cboe didn’t stop there. They also nudged the SEC to allow Canary and WisdomTree to sprinkle some XRP magic dust into their ETF offerings. Plus, Fidelity wants to dip its Bitcoin and ETH ETFs into some proverbial fondue pot called “in-kind support.” Fancy talk for “we really wanna save on taxes, please.” 🍫📈

If that’s not enough drama, Cboe also wants 21Shares’ Ether ETF to stake its ETH holdings for extra money. The SEC, meanwhile, is like that puzzled uncle at Thanksgiving, asking the industry for “a memo” to explain staking. Pro tip: Just tell them it’s like planting corn but digital. 🌽🤖

Expected Approvals

Bloomberg Intelligence, those optimistic party-goers, have set the odds at 65% for XRP ETFs landing SEC approval. Wanna bet? Litecoin (LTC) ETFs have an even higher chance at 90%, and Solana (SOL) ETFs are chilling at 70%. This is starting to feel like a Vegas roulette table. 🎰💼

By Feb. 14, warming up SEC vibes hit Cboe’s request to list asset manager 21Shares’ XRP ETF. Nothing says “Happy Valentine’s Day” like an altcoin love letter. 💌💎

Not to be upstaged, Coinbase launched SOL futures contracts on Feb. 19. Futures are like crystal balls for pricing stability, thus helping ETF applications. Who knew crypto exchanges were aspiring fortune tellers? 🔮⚡

And let’s not forget Franklin Templeton (who? 😊) deciding to throw down an ETF with both spot Bitcoin and Ether on Feb. 20. Talk about being extra! Remember, back in 2024, Biden-era SEC had allowed BTC and ETH ETFs but slammed the door shut for “fancier” crypto ETFs. Pfft, party poopers. 🚪🚷

2025-02-20 23:13

Flurry of Filings

Expected Approvals

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