🚀 XRP ETF: SEC’s Final Dance or Another Bulgakovian Farce? 🎭

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Ah, the SEC, that grand bureaucrat of the financial cosmos, teeters on the edge of approving Bitwise’s XRP ETF. Will it be a triumph of progress or another chapter in the absurd? The NYSE awaits with bated breath, and a modest 0.34% fee, of course. 🤑

 

In the shadowed halls of regulatory intrigue, Bitwise has taken a step so bold, so audacious, it could only be compared to a master’s stroke in a Bulgakovian satire. The final S-1 filing for the XRP ETF has been submitted, and the air is thick with anticipation-or is it merely the scent of impending farce? Industry soothsayers whisper of approval within weeks, a moment that could either elevate XRP to the heavens or plunge it into the abyss of bureaucratic limbo. 🤡

Bitwise’s Grand Filing: The Last Waltz Before the Storm?

Bitwise, ever the diligent suitor, has filed Amendment No. 4 for its XRP ETF with the SEC. This filing, a mere formality in the grand ballet of finance, includes two details so crucial they could make or break the ETF’s destiny: the NYSE as its trading stage and a management fee of 0.34%. Eric Balchunas, Bloomberg’s oracle of ETFs, declares these additions “the last boxes to check.” But in a world where the SEC’s whims are as predictable as a cat’s loyalty, who can say for certain? 🐱

Bitwise just updated their XRP ETF filing to include exchange (NYSE) and fee of 0.34%, which are typically the last boxes to check. Amendment #4.

– Eric Balchunas (@EricBalchunas)

This filing, a beacon of hope or a harbinger of delay, marks a critical juncture in Bitwise’s odyssey. Once the SEC’s stamp of approval is bestowed, the ETF could spring to life with the swiftness of a conjurer’s trick. Institutional investors, those titans of the financial realm, may soon find themselves seduced by the allure of XRP, a digital asset that has long danced on the periphery of acceptance. 💼

A Chorus of Firms Joins the XRP ETF Ballet

Bitwise is not alone in this grand spectacle. VanEck, Fidelity, and even the enigmatic Canary Funds have joined the fray, each filing their own XRP-related ETFs. Canary Funds, in a move as cunning as it is bold, has removed a “delaying amendment,” potentially clearing the path for a mid-November launch. But in the theater of the SEC, even the most meticulous plans can unravel like a poorly written script. 🎭

NEW: and join crew of issuers filing to potentially launch crypto products next month (November). Earlier we had and file for solana in this way. Also had canary file for XRP. Will be interesting to see how this plays out.

– James Seyffart (@JSeyff)

This surge in XRP ETF filings is a testament to the growing optimism-or perhaps desperation-in the digital asset market. As regulatory clarity inches forward like a reluctant tortoise, the stage is set for a dramatic finale. Will the SEC open the gates to a new era of cryptocurrency ETFs, or will it deliver another blow to the hopes of the crypto faithful? 🏛️

The Final Act: Approval or Absurdity?

Both Bitwise and Canary Funds have submitted their Form 8-A filings to Nasdaq, the penultimate step in this regulatory odyssey. The SEC’s approval now stands as the final hurdle, a barrier that could crumble in days or persist for months. Yet, the whims of the U.S. government, ever unpredictable, could alter the timeline in ways both comical and tragic. 🗓️

Interest in XRP, that enigmatic digital asset, continues to swell, driven by the insatiable appetite of institutional investors. The REX-Osprey XRP ETF has surpassed $100 million in assets under management, and CME Group’s introduction of new XRP derivatives underscores the growing fascination with this cryptocurrency. Could XRP be the next darling of the crypto world, or is it merely a fleeting fancy in a sea of speculation? 💹

Bitwise’s XRP ETF filing follows on the heels of its Solana ETF, a launch that saw $44 million in inflows last week. This success has ignited investor interest in emerging layer-1 assets, with some analysts predicting that XRP could be the next destination for capital fleeing the confines of Bitcoin and Ether. But in the world of crypto, where fortunes rise and fall with the speed of a Bulgakovian plot twist, nothing is certain. 🌪️

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2025-11-02 07:32