Another “not so fast” from the SEC
The first prediction markets ETFs were supposed to hit the tape as early as last week. Instead, the SEC tossed on the brakes, delaying approval and turning a near-term debut into a waiting game.
If that sounds familiar, it should. Wall Street has seen this movie before with spot bitcoin ETFs, where the approval saga dragged on for what felt like forever during the Biden years. Same vibe, different shiny new financial wrapper.
What’s actually getting delayed?
These funds — from Roundhill Investments, Bitwise, and GraniteShares ETFs — were set to become effective under the SEC’s 75-day rule. That’s the kind of regulatory shortcut that makes issuers hope for a clean runway. Instead, they got the classic government version of “please hold.”
For investors, the bigger takeaway is less about one launch date and more about whether prediction markets are finally crossing from niche curiosity into mainstream investable product. When the SEC hesitates, it can cool demand, push back fee revenue, and slow the whole “new asset class” hype machine.
Big picture
Prediction markets may still get their day, but this delay reminds you that the path from clever idea to investable ETF usually runs straight through the SEC’s bureaucratic escape room.