Crypto ETFs: November Could Be the New October for U.S. After Shutdown Delays SEC Decisions
ETF issuers are using procedural filings to launch spot crypto funds in November, bypassing SEC approval delays caused by the government shutdown.Summary
The U.S. government shutdown delayed expected approvals for spot crypto ETFs in October, but issuers are now leveraging a procedural workaround to bring them to market in November. This method involves filing updated S-1 registration statements with "no delaying amendment" language, which automatically become effective after 20 days unless the SEC intervenes. This approach successfully launched four crypto ETFs earlier this week. Following this success, Fidelity updated its Solana ETF filing, and Canary Capital updated its XRP ETF filing, potentially leading to an XRP fund launch as early as November 13. However, the success of this workaround is limited; funds whose S-1s have not yet received SEC feedback might still require the government to reopen before they can launch, according to Bloomberg Intelligence analyst James Seyffart.
(Source：CoinDesk)