Crypto ETFs: November Could Be the New October for U.S. After Shutdown Delays SEC Decisions

The anticipated October approvals for U.S. crypto ETFs faced setbacks due to a government shutdown that halted SEC decision-making. However, November is now seen as a potential turnaround, with issuers employing a workaround that allows them to launch new ETFs without waiting for active SEC approval. This method enabled four crypto ETFs from Canary Capital, Bitwise, and Grayscale to be listed despite regulatory paralysis. Following this, Fidelity and Canary have filed updated S-1 forms for new ETFs, potentially making them available by November 13 if the SEC does not intervene. While this workaround has sparked optimism for multiple fund launches, there are uncertainties, particularly regarding the SEC's engagement with specific applications like XRP. Analysts suggest a surge in crypto funds could emerge next month, dependent on governmental processes resuming.

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