Oh, what a peculiar pickle! Last week, the US Securities and Exchange Commission waved its mighty wand and approved new listing rules for commodity-based trust shares. This curious move might just make it faster to launch spot crypto ETFs, but some investors are scratching their heads like confused llamas 🦙.
Bloomberg’s very serious ETF wizard, James Seyffart, proclaimed that this SEC spell could unleash a “wave of spot crypto ETP launches.” Splash! Boom! Imagine crypto popping up everywhere like popcorn 🍿.
Eric Balchunas, another sage of ETF tomfoolery, hinted slyly that the SEC had simply cut the red tape for crypto ETFs “so long as they have futures on Coinbase.” It’s like saying, “Yes, you may enter… but only through the magic gate!” 🧙♂️
Seoyoung Kim, a finance professor at Santa Clara University, added with a twinkle in the eye, “For ETFs in already ‘legitimized’ realms like BTC and ETH, these new rules won’t speed up the journey much. But for the brave, uncharted digital coins, this could slash approval times from years to mere months. Hooray for impatience!” 🎩✨
Federico Brokate of 21Shares gushed that the “in-scope assets” will now dance with more predictability, letting issuers and investors sleep easier at night, dreaming of shorter approval times 😴💤.
“No more juggling S-1 and 19b-4 applications like flaming batons,” Brokate added. “If your product fits the generic rules, it can simply waltz straight onto the exchange floor!” 💃🕺
But beware! Are there dragons in the ETF garden?
Indeed! The SEC has been tiptoeing back from heavy-handed actions against crypto companies. Some whisper that this could leave investors exposed to unexpected fire-breathing surprises 🐉.
Caroline Crenshaw, the lone Democratic voice in the SEC choir, warned that the new shortcut might ignore proper investor protection checks. “These crypto ETFs are like untested potions bubbling on the stove,” she said, wagging a finger. ⚗️
Kim reassured that the ancient scrolls of diligence still stand firm:
The longstanding extensive requirements from the ’33 and ’40 acts are still in place and have not been lessened by the recent decisions of the SEC.
Greg Benhaim of 3iQ added, “These new generic rules might help ordinary mortals spot which coins are actually tasty treats for their portfolios. An AVAX ETF and an ADA ETF are very different beasts, after all!” 🐲🍬
Since this magical rule change, Hashdex has expanded its crypto ETF circus to include XRP, Solana, and Stellar. Balchunas hints there could be a parade of 22 coins ready to dance onto the spot ETF stage-ready, set, cha-ching! 💰🎪
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2025-09-26 01:29