Potential End to US Government Shutdown May Impact XRP ETF Filings
- White House economic adviser Kevin Hassett indicated that the government shutdown could end this week, allowing negotiations to resume.
- The U.S. SEC has paused evaluations of cryptocurrency ETFs during the shutdown, affecting pending applications including those for XRP.
- Institutional interest remains strong, with clients of Charles Schwab owning about 20% of all cryptocurrency ETFs in the U.S.
- Website traffic to Schwab’s crypto investment portal surged by 90% over the past year, reflecting growing public interest.
- More than five new crypto ETF applications were submitted to the SEC last week, indicating readiness for regulatory activity post-shutdown.
As discussions continue among Democratic senators and major cryptocurrency firms like Coinbase and Ripple, the resolution of the government funding issue could pave the way for critical decisions on digital asset legislation.
The potential reopening of government operations may lead to resumed evaluations of XRP ETFs, which have been on hold during the shutdown. This follows a notable increase in institutional engagement with crypto ETFs as evidenced by Charles Schwab’s client holdings. (Source)
