SEC’s Never-Ending Drama: Will We Ever See Avalanche & Cardano ETFs? 🤔

In a turn of events that can only be described as thrillingly tedious, the US SEC has once again decided to delay its decisions on two Grayscale exchange-traded fund (ETF) applications. Investors, brace yourselves for yet another round of waiting—because who doesn’t love a good cliffhanger? 🎢

Yes, you heard it right! The SEC, in its infinite wisdom, has chosen to prolong the suspense surrounding the spot Avalanche and Cardano ETFs. It seems that the Commission has taken a page from the book of procrastination, opting to keep us all on the edge of our seats. Perhaps they’re waiting for the next season of Game of Thrones to drop before making any decisions? 🐉

According to a recent SEC release—because nothing says “urgent” like a bureaucratic announcement—the Commission has confirmed its decision to push back its verdict on Grayscale’s Avalanche and Cardano ETFs. Apparently, they require more time to ponder the existential questions surrounding the viability of Grayscale’s Cardano ETF filing. One can only imagine the deep philosophical discussions taking place in those hallowed halls. 🤔

Grayscale, in a fit of optimism, filed for an ADA ETF early in the year, prompting the SEC to acknowledge the filing and effectively launch a 240-day review period. As the first decision deadline crept closer, the odds of Cardano ETF approval soared to an all-time high—71%, according to the decentralized prediction market platform Polymarket. But alas, it seems the SEC prefers to keep the suspense alive, much like a soap opera that refuses to resolve its plotlines. 📺

So, dear investors, keep your popcorn ready and your hopes high. The SEC’s drama is far from over, and who knows? Maybe one day we’ll actually see those ETFs approved. Until then, we wait with bated breath and a healthy dose of sarcasm. 🍿

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