SEC’s Crypto ETF Ruling: A Plumbing Upgrade Everyone Can Ignore! 🚽💸

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So, gather ’round, folks! The U.S. Securities and Exchange Commission has decided to play nice with crypto. Yes, they’ve given the thumbs up for ETF issuers to do a little sleight of hand, swapping Bitcoin and Ether like they’re trading Pokémon cards! Spoiler alert: It’s not a retail revolution; it’s more of a structural upgrade. Think less “party in the streets” and more “let’s fix the plumbing.” 🛠️🚰

Our buddy Eric Balchunas over at Bloomberg is calling it “a plumbing fix.” I mean, wow, how glamorous! 🥳 It won’t really change how your average Joe interacts with these fancy crypto exchange-traded funds. He’s basically saying, “Hey, retail investors, you’re still not getting your grubby hands on actual bitcoins with this move, but look! The SEC is finally treating crypto like a grown-up asset class!” Yay? 🎉

In this thrilling episode of “Who wants to save on conversion fees,” asset managers can now exchange crypto tokens directly for ETF shares instead of messing around with cash. Honestly, this sounds more exciting than it actually is! But hey, no more conversion fees means more savings for you… or maybe just a cup of coffee? ☕️

Bitwise Asset Management is already jumping on this bandwagon. They just announced their Bitcoin (BTC) and Ether (ETH) ETFs will be the first U.S. crypto funds to adopt this new structure, making us all drool a little. The SEC’s ruling is like a green light for the big boys. But let’s be real; it’s just a little fluffing of the pillows, making everything nice and tidy. 🛏️😌

“It just makes the pipes a little better,” Balchunas said. Because if there’s anything we need more of in the crypto world, it’s better pipes. Former SEC Chair Gary Gensler wasn’t a fan of those in-kind creations because he was worried about potential funds popping out of dubious places. Can you blame him? 💩

And here we are, inching crypto ETFs closer to their traditional siblings, making them more cost-efficient! Bitwise President Teddy Fusaro chimed in, saying, “This move brings crypto funds on the same foundation as institutions.” Wow, what a thrilling foundation! 🎈

Federico Brokate, the head of U.S. Business at 21Shares, told CryptoMoon that this ruling might just pave the way for deeper integration between digital assets and traditional finance. Try saying that three times fast! 🤯

US Bitcoin ETFs now hold over 6% of the total supply

Now, hold on to your seats because it gets juicier! Thanks to the SEC ruling, those U.S. Bitcoin ETFs are hoarding Bitcoin like it’s going out of style. They currently hold a whopping 1,299,401 BTC. That’s about 6.18% of the total 21 million coins! Feel free to try to wrap your head around that. 🥴

And leading the charge is the iShares Bitcoin Trust from BlackRock, sitting pretty with 740,601 BTC valued at a mind-boggling $87.66 billion. Now, wouldn’t that be a nice little retirement plan? If only we could get our hands on that! 😅

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2025-07-31 22:39