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SEC Delays Impacting US Crypto ETFs: November's Potential as the New October

The anticipation surrounding crypto exchange-traded funds (ETFs) in the U.S. markets has shifted from October to November due to recent government shutdowns affecting the SEC.

Originally, October was expected to be a pivotal month for the approval of several spot crypto ETF applications.

However, as the shutdown halted the SEC's review processes, many issuers are now utilizing a procedural workaround to advance their ETFs without direct SEC sign-off.

This approach has already allowed four new crypto ETFs to launch, as issuers filed updated S-1 registration statements with "no delaying amendment" language.

The successful launch of these ETFs has triggered an influx of new filings, including Fidelity's spot Solana ETF and a newly proposed XRP ETF from Canary Capital.

If the SEC does not intervene, these funds could potentially debut as early as mid-November, depending on the status of the government.

Despite this procedural momentum, some issuers are still waiting for feedback from the SEC on their applications, which may prevent certain funds from launching.

James Seyffart from Bloomberg Intelligence notes that while many ETFs may launch next month, others could remain stalled without renewed SEC operations.

This development marks a significant shift in how issuers are navigating the lengthy process of bringing crypto ETFs to market.

The outcome of this movement in November hinges not only on market readiness but also on whether the government resumes its functions.