The U.S. Securities and Exchange Commission just shoved back its verdict on the Truth Social spot Bitcoin and Ethereum ETF.
This little regulatory cliffhanger, draped in bureaucracy and extended evaluations, has everyone holding their crypto breath, but don’t expect fireworks just yet.
Delay
Truth Social, yes, the brainchild of Trump Media & Technology Group, isn’t going solo in this delay drama.
It’s sharing the limelight with big ballers like Grayscale and CoinShares, all stuck in the SEC’s slow cooker of rule changes and red tape.
Other crypto ETF hopefuls for XRP and Litecoin are also in the regulatory penalty box, caught in the same wave of deferments aimed at dotting every i and crossing every t in these proposals. Guys, the SEC is the grandmaster of the delaying.
More time
Now, if you’re picturing Bitcoin and Ethereum trading floors plunging into chaos, think again.
Despite the buzz and some frustration from blockchain enthusiasts, who might be twitching for clearer skies, the crypto seas remain calm.
No panic selling sprees, no institutional running-for-the-hills. Just a collective wait-and-see vibe as the SEC reassures everyone that the commission simply needs more time to untangle the proposal spaghetti.
Bitcoin, standing tall and proud, shrugged off the hiccup like a seasoned poker player.
With a market cap roaring at $2.3 trillion and holding a sturdy 57% market dominance, over the past 90 days, Bitcoin has recovered nearly 12%, proving resilience is its middle name.
Speculative mania?
History offers a comforting backstory tho, SEC delays on other crypto ETFs like Solana and Polkadot sparked brief doubts but didn’t derail the party long-term.
So while this latest postponement might indeed put a temporary brake on speculative mania, a market crash? Highly unlikely.
For now, the crypto market is waiting, when the SEC’s decision finally drops, carrying the hopes of investors and the futures of Truth Social’s crypto ambitions.
Until then, it’s business as usual, cautious optimism sprinkled with a dash of regulatory patience.
Cryptocurrency and Web3 expert, founder of Kriptoworld
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With years of experience covering the blockchain space, András delivers insightful reporting on DeFi, tokenization, altcoins, and crypto regulations shaping the digital economy.
