Secret Society of Crypto: SEC’s Laughable In-Kind Scheme! 🕵️‍♂️

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Secret Society of Crypto: SEC’s Laughable In-Kind Scheme! 🕵️‍♂️

In the dimly lit corridors of regulatory wizardry, a proposal has emerged, daring to let those clever authorized participants exchange Bitcoin—yes, that mysterious digital gold—for ETF shares straight away! No money changing hands, just a magical swap, as if by sorcery, all in the name of tax efficiency and the sweet aroma of fewer transaction costs. Hooray! 🎉

This cunning move follows a series of delays, whispers, and requests for feedback—oh yes, the very fabric of crypto lore involving giants like BlackRock’s iShares Bitcoin Trust, VanEck’s Bitcoin Trust, and that curious Ethereum Trust, all pondering the same cryptic dance, according to the wise scribes at The Block.

Public Comments: 21 Days of Fame and Shame

Now, behold! The SEC, that august gatekeeper, has issued a summons on a Monday—calling all stakeholders to scribble, debate, and plead in a window of precisely 21 days. Such urgency! Such suspense! Will they approve or will they… delay? Ah, the plot thickens!

The in-kind creation model has become a mad, swirling center of attention for those ambitious issuers wishing to make cryptocurrency ETFs more in tune with traditional funds—an effort as amusing as building a dragon to guard your rice bowl. Currently, cash rules the roost, mainly out of regulatory fear, but the wise asset managers—those daring souls at WisdomTree—believe in this in-kind fairy tale, suggesting it could make everything faster, cheaper, and—dare we say—more respectable.

As for the final verdict? The SEC has not yet declared its divine decree, but signs point to a growing appetite for rethinking old rules, especially as the institutional suitors rustle in the shadows, eager to throw their lot into the crypto game. Stay tuned! 🤡

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2025-06-03 11:12