SEC’s ETF Drama: Delays, Hopes, and a Dash of Sarcasm! 🎭

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Ah, mesdames et messieurs! The illustrious U.S. Securities and Exchange Commission, in its infinite wisdom, has decided to delay the fate of two more ETFs, adding them to a veritable cornucopia of applications languishing in bureaucratic limbo. 🎩

In a most theatrical turn of events, the SEC has announced, on the fateful day of June 17, that it shall embark on formal proceedings to ponder the merits of Franklin Templeton’s proposed XRP (XRP) and Solana (SOL) ETFs. One can only imagine the deliberations taking place in their hallowed halls! 🧐

Such delays, dear audience, are often prompted by the need for a more thorough evaluation—because who wouldn’t want to take their sweet time with other people’s money? This pause allows for additional public input and internal review, as if the public’s opinion on ETFs is akin to a Shakespearean play! 🎭

“The Commission is instituting proceedings pursuant to Section 19(b)(2)(B) of the Act13 to determine whether the proposed rule change should be approved or disapproved,” the filings read. “Institution of proceedings does not indicate that the Commission has reached any conclusions with respect to any of the issues involved.” Ah, the suspense! 🎭

But wait! This delay is merely a continuation of a grand tradition, coming just a week after the SEC decided to postpone rulings on DOGE (DOGE), AVAX (AVAX), and HBAR (HBAR) ETFs. It seems the SEC is quite fond of keeping us all on the edge of our seats! 🎢

While this is not a rejection, it does throw a proverbial wrench into the gears of market expectations for an imminent approval. Yet, fear not! Analysts, those ever-optimistic seers, remain hopeful. 🌈

Solana, XRP ETFs: Still in the Game Despite SEC’s Slow Waltz

In a delightful twist, ETF analyst James Seyffart has chimed in, declaring that the SEC’s delay is as common as a Frenchman’s love for cheese. He assures us that while the timeline remains as uncertain as a cat in a room full of rocking chairs, the SEC’s active engagement is a “very positive” sign. 🧀

“Delay here was expected. Intermediary deadline for this was today.

But, SEC is engaging on S-1 for Solana Staking ETFs and that’s a *very* positive sign. Still, timelines for approvals are less certain IMO.” — James Seyffart (@JSeyff) June 17, 2025

Earlier this month, our dear analyst placed the odds of approval for both SOL and XRP ETFs at a staggering 90% and 85% respectively, citing the SEC’s current view of each asset, existing CFTC oversight of futures, and the strength of the filing institutions. A veritable feast of optimism! 🍽️

However, both SOL and XRP have taken a slight tumble, dropping roughly 4% over the past 24 hours, likely in response to this regulatory melodrama. Meanwhile, the first XRP ETF has made its grand debut in Canada, having received the nod from the Ontario Securities Commission (OSC), signaling a growing interest and adoption beyond the borders of the United States. Bravo! 🎉

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2025-06-18 10:33