TLDR
- XRP ETF issuers have filed amendments amid ongoing U.S. government shutdowns.
- The U.S. government shutdown has delayed the approval of XRP spot ETFs.
- XRP price dropped 24% due to market conditions and ongoing uncertainty.
- Amendments aim to ensure XRP ETFs are ready for approval once the shutdown ends.
XRP ETF issuers are pressing forward with their plans despite the ongoing U.S. government shutdown that has delayed potential approval. Recently, several asset managers, including Bitwise and Grayscale, filed amendments to their registration statements for XRP exchange-traded funds (ETFs). This move signals that the launch of XRP-spot ETFs could be imminent once the SEC resumes its operations. However, the prolonged government shutdown is causing uncertainty over the approval timeline.
U.S. Government Shutdown Delays ETF Approval
The U.S. government shutdown, which began in late September 2025, has led to a halt in many governmental functions, including the SEC’s review of financial filings. As a result, the approval process for XRP-spot ETFs has been delayed. SEC staff members are unable to fully assess the S-1 registration statements submitted by various asset managers due to limited resources. This has left the approval process in limbo, with some market experts noting that the delay could last until the shutdown ends.
Despite these challenges, XRP ETF issuers have continued to file amendments to their registration documents. These amendments may improve the chances of approval once the SEC can resume its work. The filing of these amendments is seen as an effort to ensure that the ETFs are ready for approval as soon as the government reopens, which could be in the coming weeks. However, some experts remain cautious about the potential for further delays due to the uncertainty surrounding the government shutdown.
Amendments to Registration Documents Signal Imminent Launch
Issuers like Grayscale, Bitwise, and WisdomTree have filed updated S-1 forms, which include additional details about the funds. Some of the amended filings include tickers for their proposed XRP funds, including ‘GXRP’ for Grayscale and ‘XRPC’ for Canary. These updates are seen as an effort to keep the approval process on track and signal that the launch of the XRP-spot ETFs is nearing.
Although these amendments bring some optimism to the market, the ongoing government shutdown remains a hurdle. The SEC has suspended all reviews and decisions related to ETF filings until the government reopens. While asset managers have shown resilience by amending their filings during this period, the future of XRP ETF approvals depends on the resolution of the shutdown.
Market Impact and Investor Expectations
The delay in XRP ETF approvals has led to a mixed market reaction. XRP’s price has been volatile, with the cryptocurrency experiencing sharp declines in recent weeks. On October 11, XRP fell to a low of $2.36, down 24% from its October 2 high of $3.10. Analysts note that much of the recent price drop can be attributed to the broader market conditions, including the ongoing trade tensions between the U.S. and China, as well as the uncertain future of XRP ETFs.
Despite the bearish trend, there remains hope in the market that the approval of XRP-spot ETFs could boost investor confidence and drive prices higher. The launch of these ETFs could open up XRP to institutional investors, which could provide significant demand for the digital asset. However, the timing of the approval is critical, and any further delays could dampen optimism for XRP’s future growth.
What’s Next for XRP and Its ETFs?
As the U.S. government shutdown continues, the future of XRP-spot ETFs hangs in the balance. If the Senate can pass a stopgap funding bill and the government reopens by mid-October, there is a possibility that the SEC could approve the XRP ETF applications shortly thereafter. However, if the shutdown extends beyond October 14, delays may push the approval process further into the year.
In addition to the government shutdown, the global economic climate remains uncertain, with factors like the U.S.-China trade tensions influencing investor sentiment. XRP’s prospects depend not only on regulatory developments but also on the broader economic environment. The upcoming APEC summit between U.S. President Trump and China’s President Xi, scheduled for October 31 to November 1, could play a key role in shaping market expectations.
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