XRP & Doge: The SEC’s Secret Love Letter? 🐕💸

by

Oh, what a tangled web we weave when we attempt to list a crypto ETF! The United States, in its infinite wisdom, seems to have stumbled upon a method-almost deliberate, one might say-to unlock the vaults of XRP and Dogecoin. How very modern of them. 🎩✨

Chairman Nate Geraci of The ETF Store, that paragon of stoic optimism, has been spotted on X murmuring: “Exchanges and the SEC are quietly whispering sweet nothings about generic listing standards for spot crypto ETFs… By October, the floodgates shall open!” One might think he’s quoting a Shakespearean farce, were it not for the Dogecoin references. 🐕🎭

Why Spot XRP And Dogecoin ETFs Are Closer Than Ever

Alas, no grand decrees from the Commission, just a methodical tango of three exchanges-Cboe BZX, NYSE Arca, and Nasdaq-dancing to the same tune of “Commodity-Based Trust Shares.” Their new rules? A magician’s trick: allow ETPs to list without bespoke approvals, provided they meet criteria and promise to behave. NYSE Arca’s Rule 8.201-E, Nasdaq’s Rule 5711(d), and Cboe’s Rule 14.11(e)(4) all whisper the same truth: “Systematic approvals, but make it chic.” 💼🎩

Greg Xethalis of Multicoin Capital, that oracle of legal jargon, revealed on X: “The exchanges have filed amendments to remove ‘excluded commodities’ from their definitions.” A belt-and-suspenders move, indeed. Nasdaq even footnotes the CEA §1a(19) to prove they’re not hiding anything… like a Victorian novel with an index. 📚🔍

Cboe’s proposal, meanwhile, demands the underlying asset has a six-month futures contract and surveillance-sharing agreements. A bureaucratic waltz, really. But then, the SEC has always preferred structured chaos. 🕺📜

ETF Applications In The Queue

With these rules nearly finalized by late September or early October, the XRP and Dogecoin queues are already brimming with 19b-4 filings. The calendar? A well-rehearsed play. For XRP, Nasdaq, NYSE Arca, and Cboe BZX all point to October 18-23 as their “outside dates.” Dogecoin? November 12 and January 14, 2026-because why let a little thing like time ruin the party? 🎉⏳

And thus, if the SEC blesses the rules as expected, the “floodgates” (a term Geraci uses with the gravitas of a dam about to burst) will open just in time. One might call it fate. Or perhaps the SEC’s long-awaited midlife crisis. 🚣♂️💥

XRP, at press time, traded at $2.81. A humble price, but with dreams of IPOs in its future. 🌟

Read More

2025-09-05 15:18