SEC Guidance Could Speed Up XRP ETF Filings After Shutdown Backlog

• SEC’s new guidance enables automatic ETF effectiveness after 20 days without delaying amendments, targeting crypto filings stuck in limbo.

• Analysts predict issuers like Bitwise will fast-track XRP ETFs, following Canary Capital’s successful XRPC launch.

• Over 900 registration statements piled up during the shutdown; the SEC now processes them in order, including post-effective amendments declared effective by default.

SEC guidance accelerates XRP ETF approvals post-shutdown, clearing backlog for crypto products. Discover how this impacts Bitwise’s filing and market momentum—stay ahead in digital assets today.

What is the Impact of SEC’s New Guidance on XRP ETF Approvals?

XRP ETF approvals are gaining momentum following the U.S. Securities and Exchange Commission’s recent guidance, which allows certain filings to become effective automatically under Section 8(a) after removing delaying amendments. This post-shutdown update addresses a backlog of over 900 registration statements, enabling issuers to expedite processes for digital-asset products. Bloomberg ETF analyst Eric Balchunas noted that this could push forward crypto ETFs like Bitwise’s XRP application, which was previously delayed.

How Does Project Crypto Influence Crypto ETF Timelines?

The SEC’s Project Crypto initiative, unveiled recently, establishes a formal token taxonomy that differentiates non-securities from tokenized assets and clarifies the end of investment contracts. This structured approach reduces regulatory uncertainty, allowing for faster ETF reviews. According to SEC filings, the guidance aligns with efforts to modernize digital-asset oversight, with experts like Balchunas highlighting its role in clearing procedural hurdles. Supporting data from market reports shows crypto ETFs, including those for XRP and Solana, comprising a significant portion of the 900+ pending statements. Short sentences underscore the shift: predictable timelines are now feasible, enforcement actions may decrease, and issuers gain clarity on compliance. The division of Corporation Finance confirms processing in receipt order, with automatic 20-day effectiveness for undelayed filings and acceleration requests available post-resumption.

Regulators move to clear backlog after shutdown as XRP ETF mania intensifies.

Key Highlights

• The SEC published post-shutdown guidance allowing some ETF filings to become effective automatically under Section 8(a).
• Analysts expect issuers to accelerate pending crypto ETFs, including Bitwise’s XRP filing.
• The guidance aligns with the SEC’s new “Project Crypto” effort to modernize digital-asset regulation.

The U.S. Securities and Exchange Commission has issued new guidance that could speed up the approval timeline for pending crypto ETFs, setting the stage for another wave of launches as demand for regulated digital-asset products increases.

A backlog meets a booming market

During the recent government shutdown, issuers submitted more than 900 registration statements, creating a substantial backlog for the SEC. The Division of Corporation Finance has outlined a streamlined approach to handle these, prioritizing filings received in sequence.

• Statements without delaying amendments will go effective automatically after 20 days.
• Issuers may request acceleration once the staff resumes normal operations.
• Post-effective amendments filed during the closure will be declared effective unless issuers opt out.

This procedural update arrives at a pivotal time, as crypto ETFs continue to drive market enthusiasm. Filings for assets like XRP and Solana represent a growing share of the queue, reflecting investor appetite for diversified, regulated exposure to digital assets.

Canary’s XRP ETF debut adds pressure

Just ahead of the guidance release, Canary Capital’s XRPC ETF debuted with impressive results, attracting $46 million in volume on its first trading day. This strong launch, one of the notable ETF introductions in 2025, underscores the pent-up demand for XRP-based products.

Market observers suggest that this success will encourage other issuers, such as Bitwise, 21Shares, and CoinShares, to leverage the new SEC rules for their XRP, Solana, and multi-asset ETF proposals. The combination of backlog clearance and proven market viability positions 2025 as a landmark year for crypto investment vehicles.

Project Crypto sets the backdrop

The timing of the filing guidance coincides with the SEC’s broader Project Crypto framework, which introduces the agency’s first official classification system for tokens. By separating non-security tokens from those qualifying as tokenized securities, the project provides issuers with clearer guidelines on regulatory treatment.

This evolution from ad-hoc enforcement to formalized rules benefits ETF developers by minimizing delays and enhancing transparency. For instance, the initiative specifies conditions under which investment contracts conclude, directly aiding the structuring of compliant products. Industry experts view this as a maturation of U.S. digital-asset regulation, fostering innovation while protecting investors.

What happens next

ETF issuers must now decide whether to amend their submissions to eliminate delaying provisions, triggering the 20-day automatic effectiveness period, or pursue formal acceleration requests. Bloomberg analyst Eric Balchunas anticipates a surge in effectiveness declarations starting late November, particularly for crypto-focused filings.

With XRP ETFs already available through launches like XRPC and additional proposals from major players in the pipeline, this guidance could catalyze the quickest growth in U.S. digital-asset ETFs to date. Investors should monitor upcoming notices for opportunities in expanding regulated crypto exposure.

Also read: Bitwise Moves to Advance Spot Dogecoin ETF Approval Process

Frequently Asked Questions

What Does SEC Section 8(a) Mean for XRP ETF Filings?

Section 8(a) of the Securities Act permits certain registration statements to become effective automatically 20 days after filing if no delaying amendments are present. For XRP ETFs, this means issuers like Bitwise can expedite approvals by removing such language, clearing post-shutdown delays without full SEC review.

How Will Project Crypto Affect Crypto ETF Approvals?

Project Crypto introduces a token taxonomy that classifies digital assets more clearly, distinguishing non-securities from regulated ones to streamline ETF processes. This framework, combined with faster filing mechanics, should lead to quicker approvals for products like XRP and Solana ETFs, making it easier for investors to access these markets through traditional channels.

Key Takeaways

• Backlog Clearance Boost: The SEC’s guidance processes over 900 pending filings, prioritizing crypto ETFs like those for XRP to reduce wait times.
• Market Momentum: Canary Capital’s XRPC ETF debut with $46 million volume highlights strong demand, pressuring regulators and issuers to act swiftly.
• Regulatory Evolution: Project Crypto’s taxonomy offers clearer rules, enabling faster innovation in digital-asset products while maintaining investor protections.

Conclusion

The SEC’s post-shutdown guidance and Project Crypto initiative mark a turning point for XRP ETF approvals and broader crypto ETF development, addressing backlogs and providing structured regulatory clarity. As issuers accelerate filings for assets like XRP and Solana, investors can anticipate a surge in accessible, regulated products. This positions 2025 as a pivotal year for digital-asset integration into mainstream finance—consider monitoring key ETF launches to capitalize on emerging opportunities.