SEC’s Dogecoin and XRP ETF Decision: Delayed Again! What’s Next, a Reality Show?

Well, folks, grab your popcorn because the US Securities and Exchange Commission (SEC) has decided to play the waiting game with Dogecoin and XRP ETF applications from Grayscale Investments and 21Shares. 🎭

In a move that can only be described as “let’s keep everyone on the edge of their seats,” the SEC has delayed its decision. This isn’t a denial, but it’s also not a “yes, please take my money.” It’s more like a “maybe, but let’s see how this plays out.” 🤔

So, what’s the deal? The SEC is taking its sweet time to decide if these proposals meet the Exchange Act Section 6(b)(5) requirements. You know, the ones about preventing fraud and protecting investors. Because who doesn’t love a good regulatory cliffhanger? 📉

21Shares, in a bold move back in February, filed for the XRP ETF product, adding to its collection of crypto ETF filings in the good ol’ US of A. This product is supposed to be traded on the Cboe BZX Exchange, giving institutional investors a chance to dip their toes into the crypto pool without getting their feet wet. 🏊‍♂️

And just like 21Shares, Grayscale is also in the mix, trying to figure out how to make crypto ETFs a thing. It’s like watching a bunch of kids trying to build a treehouse—lots of enthusiasm, but no one really knows what they’re doing. 🏗️

Stay tuned, folks! This saga is far from over. Will they or won’t they? Only time will tell, and I’m sure the SEC is just as excited as we are. Or maybe they’re just really into suspense. 🎬

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