November Could See New U.S. Crypto ETFs Following SEC Delays
- October was expected to be a significant month for ETFs, but U.S. government shutdowns delayed the SEC’s decisions.
- Four crypto ETFs launched this week, including offerings from Canary Capital, Bitwise, and Grayscale, using a procedural route that bypassed the SEC.
- Fidelity has submitted an updated S-1 registration for its spot Solana ETF, while Canary Capital filed for an XRP ETF.
- If the SEC does not intervene, the first XRP fund could launch as early as November 13.
- Analysts suggest that while many funds may launch next month, some will likely need SEC feedback to proceed.
The recent procedural changes in filing allow issuers to advance their ETF applications without waiting for formal SEC approval, marking a pivotal shift in the market landscape.
With four ETFs already trading and new applications being filed, November could see significant developments in U.S. crypto ETFs, especially if the government remains closed.(Source)
