SEC’s Endless Wait: Is a Cryptocurrency ETF Just a Myth? 😂💸

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Ah, the U.S. Securities and Exchange Commission, our favorite procrastinators in suits. They’ve once again hit the snooze button on deciding whether the Truth Social Bitcoin ETF and the Grayscale Solana ETF can join the party. Honestly, who knew a bunch of financial regulators would have a penchant for lengthy deliberations more than your Aunt Marge at a holiday dinner?

According to their latest excuse—er, I mean, official release—the SEC needs “more time” to peruse the proposals. What’s next, a three-week hike in the woods to connect with nature before making a financial decision? The Truth Social Bitcoin ETF, bravely submitted by Trump Media & Technology Group in June 2025, now has an ominous deadline looming over it like an unwanted family reunion on September 18. The Grayscale gang has been similarly shoved to the back of the line, with a secondary deadline set for October 10, probably so the SEC can find the right shade of beige for their meeting room walls while they dither.

In a statement that practically screams “We’d rather be binge-watching reality TV,” the SEC let it slip that they find it “appropriate to designate a longer period” for consideration. Translation: they need another round of coffee before deciding if they’ll even glance at these proposals. If you thought this was bad, wait until they tackle the paperwork for that “Crypto Blue Chip ETF” Truth Social wants—if that doesn’t sound like a recipe for chaos, I don’t know what does.

It’s worth mentioning (not that anyone’s keeping track by this point) that this is the third time Grayscale has been instructed to sit tight on their Solana ETF since March. Talk about a financial game of hot potato! Their original filing, reverently lodged with NYSE Arca, is about as exciting as watching paint dry. And if you thought the fun ended there, the SEC is holding a staggering 72 crypto ETF proposals—yes, a veritable buffet of options—ranging from the promising to the utterly ridiculous (hello, Penguins ETF?!) waiting for approval as they munch on contractual popcorn.

“There are now 72 crypto-related ETFs sitting with the SEC awaiting approval to list or list options. Everything from XRP, Litecoin and Solana to Penguins, Doge and 2x Melania and everything in between. Gonna be a wild year.” — Eric Balchunas (@EricBalchunas) April 21, 2025

To spice this tale up a bit more, the SEC recently asked Solana ETF filers to revise their paperwork to clarify how they’re going to handle staking rewards and redemption processes. You know, just casual inquiries into how they plan to deal with the joys of digital currency investments—the SEC clearly loves a good paperwork puzzle. But they did bless the Rex-Osprey Solana Staking ETF this year, offering some hope for investors keen on cashing in on Solana. So, there’s that silver lining (if you happen to squint hard enough).

And despite all the delays—which could be a new Olympic sport at this point—demand for crypto ETFs is climbing faster than my blood pressure when I look at my bank account. BlackRock’s Bitcoin ETF is threatening to tip the scales at $100 billion in assets under management. Cheers to that: another financial rollercoaster, coming soon to a brokerage account near you!

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2025-07-28 22:39