In a move that has left the universe scratching its collective head, the U.S. Securities and Exchange Commission (SEC) has decided to take a leisurely stroll down the bureaucratic lane, delaying its decision on two crypto ETFs: the Bitwise Dogecoin ETF and the Grayscale Hedera (HBAR) ETF. Because, you know, why rush when you can ponder the mysteries of the cosmos instead? 🚀
Now, the Dogecoin ETF, which is as popular as a towel in a hitchhiker’s backpack, is backed by none other than Coinbase Custody. This delightful little financial contraption promises to give investors access to Dogecoin without the hassle of actually holding the cryptocurrency. It was originally filed on March 3, 2025, which, if you’re keeping track, is a date that sounds suspiciously like a sci-fi movie plot. The public comment period has been extended, presumably to allow more time for people to express their bewilderment and existential dread.
As for the SEC, it seems to be playing a game of cosmic chess, choosing to prolong the review process rather than simply flipping a coin. They’ve decided to solicit further public comment and conduct a more thorough analysis, which is just a fancy way of saying they’re taking their sweet time. Both delays don’t mean rejection; they merely indicate that the SEC is being as cautious as a Vogon poet at an intergalactic open mic night, especially as crypto-based investment products become as common as improbable things happening in the universe. 🛸
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2025-06-12 19:01