In a world where the mundane meets the absurd, the race to launch a spot-based XRP exchange-traded fund (ETF) in the grand old U.S. of A. is picking up speed like a runaway troika on a snowy Moscow street. The U.S. Securities and Exchange Commission (SEC), that venerable institution of financial oversight, has finally deigned to acknowledge a filing from the crypto-savvy wizards at CoinShares. 🧙♂️
Ah, but this is no ordinary filing! No, dear reader, this is the fourth such attempt to catch the SEC’s eye, like a lovesick suitor throwing pebbles at a window. The agency, in its infinite wisdom, has previously sought the opinions of other suitors—Grayscale, 21Shares, and Bitwise—each vying for the affections of the regulatory body. One can only imagine the drama unfolding behind closed doors! 🎭
Yet, the filings from the likes of Canary Capital and WisdomTree remain as unnoticed as a stray cat in a bustling market. Will they ever receive the SEC’s nod of approval, or are they doomed to languish in obscurity? Only time will tell, and perhaps a few more cups of strong coffee. ☕
In a twist that could rival the best of Dostoevsky’s plots, the odds of the SEC giving a thumbs-up to this financial contraption stand at a staggering 78% on Polymarket. These odds have remained as stable as a well-placed samovar over the past month, much to the chagrin of those who thrive on uncertainty. 📈
Meanwhile, in a delightful turn of events, former SEC official John Reed Stark has predicted that the agency might just abandon its appeal against Ripple. Could it be that the SEC is finally ready to embrace the chaos of the crypto world? Or is this merely a mirage in the desert of financial regulation? Only the spirits of the market know! 🥳
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2025-02-19 18:45