In a place where the mundane dances with the unworldly and the bureaucrats make the stars whir, the U.S. government teeters on the brink of a shutdown once again. This could inject a delay into the hazy waltz of securing approvals for spot crypto ETFs, we lament. Meanwhile, legal savant Bill Morgan-our very own Prokhor Petrovich-responded to a particularly detailed meandering by Fox Business scribe Eleanor Terrett with a cautious dose of optimism, as if caught in a Turgenev tale.
Spot ETFs Demand the SEC’s Blessing
Terrett, with the poise of a highborn lady addressing the babushka’s troubles, explained that not all ETFs tread the same Byzantine pathways. She drew attention to the Teucrium XRP ETF. A curious creature that is registered under the Investment Company Act of 1940. Laden with Treasuries, cash, and swap receivables rather than direct cryptos, it sidestepped the need for explicit SEC approval. Thus, it went into effect, almost magically, once the statutory waiting period had slumbered its way to conclusion.
Adding some context for those lost in the forest of questions, whether this applies to all ETFs, including the spots.
The short answer is no. The Teucrium $XRP ETF, filled with Treasuries, cash, and swap treasures, registered under the 40 Act, implying the @SECGov needn’t lift a quill to approve it…
– Eleanor Terrett (@EleanorTerrett) October 3, 2025
Meanwhile, Terrett enlightened the congregation that spot crypto ETFs-saunterers like those for Litecoin, Solana, or XRP-must obtain the active blessing of the SEC before making their debut. Thus, they march ever vulnerably to the beat of the agency’s operational disruptions, she deciphered.
Bill Morgan’s Musing on the Follies of the Shutdown
Bill Morgan, with the woeful wisdom of Woland himself, delved deeper into this bureaucratically charged conundrum. He mentioned that these ETF approvals are entrapped by the SEC’s Division of Corporation Finance, whose essential tasks might persist, albeit sluggishly, during a funding freeze. “Delays in the bureaucratic ballet are as inevitable as finding Yeshua at your door,” he mused, dubbing them possible.
“Crypto, like a brooding Bartemian gypsy, never fails to surprise.”
The Community’s Laughter and Whispers
Morgan’s musings bewitched the digital agora, sparking conversation. Terrett herself duly thanked him for his “fair and honest assessment,” while the community oscillated between the eager hope for XRP’s far-off fortunes and vexation at the glacial pace of the regulatory dance. Such is the tale of cautious optimism: while the shadows of the shutdown may dally with ETF approvals in the fleeting moment, faith whispers that the long game shall, in due course, roll on.
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2025-10-04 11:23