- Key clarification made
- When XRP ETFs?
XRP ETFs countdown remains on for October, with the SEC expected to reveal its decision on six ETF applications.
This week saw a government shutdown as U.S. lawmakers failed to strike a deal on federal funding. As a result, the SEC missed a few deadlines on spot ETF decisions, prompting speculation on what comes next in the markets.
The SEC is expected to rule on Grayscale XRP ETF (Oct. 18), 21Shares core XRP Trust ETF (Oct. 19), Bitwise XRP ETF (Oct. 22), Canary Capital XRP ETF (Oct. 23), WisdomTree XRP ETF (Oct. 24) and CoinShares XRP ETF (Oct. 23).
The last government shutdown in late 2018 lasted 35 days, the longest in history. Given this, it is difficult to say for how long the current shutdown might last, prompting speculation in the XRP community on the implications if the XRP ETF deadlines were missed by the SEC.
Key clarification made
Crypto reporter Eleanor Terrett responded to a tweet by XRP enthusiast Chad Steingraber, who cited that the Teucrium XRP ETF was not approved by the SEC directly. This is because the deadline was reached and the SEC didn’t “approve or deny” the listing, adding that it was automatically allowed and that the SEC’s silence indicated compliance.
Terrett added context on whether the instance of the Teucrium XRP ETF applies to all ETFs, including the spot ETF applications, to which she answered “no.”
The Teucrium XRP ETF, according to Terrett, holds treasuries, cash and swap receivables, so it was registered under the 40 Act, meaning the SEC didn’t need to actively approve it, but just to let it go effective.
When XRP ETFs?
Terrett noted that the SEC also generally lets futures ETFs go effective once the statutory period passes, rather than requiring a new, active approval each time.
Spot ETFs, though, are registered under the 33 Act as commodity trusts and do require explicit SEC approval before launching, Terrett added.
In this light, Terrett speculates that any new spot crypto ETFs, including that of XRP, might not begin trading until the SEC can declare the S‑1s effective, likely after the government shutdown is over and the agency has returned to operating at full capacity.
Source: https://u.today/xrp-etfs-approval-countdown-continues-with-key-clarification-made
