🤯 CRYPTO SUSPENSE! ⏰ The SEC delays the decision on ETFs of $XRP and the staking of $ETH ! 😴🚀
📢 The U.S. Securities and Exchange Commission (SEC) has played with time again: it delayed its decision on Grayscale's ETF of #xrp and Bitwise's request to add staking to its ETF of #ETH ! 🗓️ The SEC said it needs an additional 45 days to "consider the proposed rule change," and it is also asking for public comments on the XRP and Solana ETFs! 🙄 James Seyffart, an analyst of #ETFs from Bloomberg and a very respected voice, had already said on X: these delays were totally predictable! 🤷♂️ According to him, the SEC "typically takes its time" to respond to these requests, and most of them have deadlines until October! 🎃 So, there are no conspiracies, just the usual bureaucracy of the regulator, "no matter how crypto-friendly this SEC is," Seyffart concluded. 🧐
Although delays are the norm, Seyffart dropped an interesting tidbit: he believes that a Litecoin ETF ($LTC ) is more likely to be approved first than others! 😲 So, while we continue to wait for XRP and #solana , we might see the green light for Litecoin sooner than expected! 💡 The other spot cryptocurrency ETFs will also face delays, and the earliest approvals for the rest might not arrive until late June or early July, or even early Q4! ⏳ The SEC is flooded with altcoin ETF applications, especially after Donald Trump's election and the departure of former chairman Gary Gensler. 🌊 With Gensler gone (whose tenure was seen as super aggressive, with 100 regulatory actions against cryptos!), the SEC is now perceived as much more crypto-friendly. In fact, they have already dismissed cases against giants like Gemini and Cumberland DRW! 🎉
🤔 Do you think these delays are a necessary caution signal to protect investors?
