Hold Your Horses: SEC Puts XRP ETFs on the Eternal Treadmill 🐴⏳

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Ah, the saga continues, my dear reader. The U.S. Securities and Exchange Commission (SEC) has once again pressed the snooze button on XRP exchange-traded fund (ETF) proposals from 21Shares and CoinShares. Because why make a decision when you can just… not? 😴

These two proposals first graced the SEC’s desk back in November 2024 and January of this year, respectively. And, like a turtle with a Netflix subscription, the SEC acknowledged them both in February-but only to ensure we all know they’re capable of reading calendars. 📅🐢

Now, the agency plans to either approve or deny these applications sometime in October. But let’s be honest, if history is any indicator, that deadline might as well say “whenever we feel like it.” 🤷‍♂️

What Do These Delays Actually Mean? Or Don’t Mean?

Here’s the kicker: once the SEC acknowledges an application, they have up to 240 days to review it. That’s eight months for those keeping score at home. Eight months to decide whether something gets a thumbs-up or thumbs-down. Sounds efficient, doesn’t it? 🙄

But don’t fret, folks! These delays aren’t necessarily a death knell. In fact, they’re just procedural stalling-a polite way of saying, “We’re still thinking about it while everyone else loses their minds.” Bloomberg analysts, bless their optimistic souls, still believe XRP ETFs will get the green light during Q4 of this year. Even though Democratic SEC Commissioner Caroline Crenshaw, who apparently thinks crypto is some kind of alien conspiracy, remains firmly against it. 👽❌

Polymarket Odds: A Rollercoaster Ride 🎢

If you’re into betting markets (and who isn’t?), Polymarket bettors currently give XRP ETFs a 78% chance of approval this year. Now, before you start throwing confetti, remember that this number was sitting pretty at 98% back in June. Yes, friends, hope has taken quite the tumble since then. 😔

That said, things could be worse-it dipped to 65% in early August, which felt like watching your favorite sports team lose by one point. Oof. Still, the odds seem slightly less rosy than what Bloomberg analysts predict, who are practically handing out party hats with their 95% approval forecast. 🎉📈

BlackRock Bows Out, Leaving Franklin Templeton to Carry the Torch 🔥

Meanwhile, BlackRock-the big kahuna of investment firms-has officially decided to sit this one out. After months of whispers and wild speculation, they’ve confirmed they won’t be jumping into the XRP ETF arena. Guess they had better things to do, like maybe reorganizing their paperclip collection. 📎💼

This leaves Franklin Templeton as the main player in town. Poor Fidelity, despite filing for a Solana ETF, has also chosen to stay on the sidelines, sipping coffee and watching the drama unfold like the rest of us. ☕🎭

XRP Price Action: When Markets Go Full Drama Queen 👑📉

As for XRP itself, well, it’s having a bit of a rough patch. According to CoinGecko, the token is currently trading at $3.02 after taking a 3% nosedive. Over the past week, it’s down a whopping 6%. Ouch. It recently dipped below the $3 mark amid a broader market correction, proving that even cryptocurrencies need a good cry session now and then. 💔💸

So there you have it, folks. The world of XRP ETFs is equal parts suspense, confusion, and bureaucracy. Stay tuned for more updates-or don’t, because at this rate, we’ll probably still be talking about it next year. 😉

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2025-08-18 20:52