Two recent SEC decisions are changing the way crypto exchange-traded funds (ETFs) come to market. However, despite the growing excitement, experts say the ETF may not launch in October and the much-discussed October 19B-4 deadline is not the actual launch date.
SEC simplifies ETF approvals
The U.S. Securities and Exchange Commission (SEC) has agreed to streamline the way it approves ETFs, replacing the time-consuming case-by-case approach with Generic Listing Standards (GLS).
This change will allow crypto ETFs to be listed more efficiently once other regulatory steps are completed. The SEC has also allowed Dimensional Fund Advisors to add ETF share classes to its mutual funds, and more than 70 fund companies are awaiting similar additions.
But progress is currently at a pause. The ongoing U.S. government shutdown has furloughed SEC staff, including those who review and process ETF registrations. New ETF creation cannot proceed until the government reopens.
“Ignore the October deadline,” explains the analyst
ETF analyst Zetaris said investors misunderstood the meaning of the October 19b-4 filing.
“Basically we’re waiting for the government to (probably) reopen,” he explained. “Litecoin 19b4 had a deadline of October 2nd. Solana 19b4 had a deadline of October 10th. These (along with XRP, BCH, AVAX, etc.) were circumvented by the General Listing Standard (GLS).”
There is confusion regarding the SEC and spot ETPs.
A quick update to everyone —> Basically, we are waiting for the government to reopen (probably).
Litecoin 19b4 deadline was October 2nd. The deadline for Solana 19b4 was October 10th. These (along with XRP, BCH, AVAX, etc.) were avoided by the following measures…
— Greg Zetalis (@xethalis) October 13, 2025
The 19b-4 process is intended for exchange regulation applications, not ETF launch approvals. Although these applications have been processed, each fund still needs to complete registration under the 1933 and 1934 Acts. This includes filing Form S-1 and Form 8-A, both of which require SEC review.
These reviews are paused, so the ETF cannot go live yet. Xethalis said some issuers, including Canary LTC, Bitwise SOL and Grayscale SOL, have removed “delayed amendments” to speed up approvals. However, this does not mean that a Halloween release is guaranteed.
what happens next
Once the government reopens, exchanges such as NYSE Arca, CBOE BZX, and NASDAQ may begin listing these ETFs. The basic preparation is complete. Many spot crypto ETPs, including those of Solana (SOL) and Litecoin (LTC), have passed the key rule steps.
Still, it’s a waiting game.
XRP price fluctuates according to news
Despite the uncertainty surrounding the timing of the ETF, XRP’s rapid movement has not stopped. After a 41% flush, XRP rallied to $2.40 and is holding above support as trading activity spikes.
Trading volumes are up 160% from the monthly average as both retail companies and institutional investors adjust their positions. The SEC was expected to review several spot XRP ETFs filed by Grayscale, Bitwise, 21Shares, and WisdomTree between October 18th and 25th, but those dates are currently unclear.
Analysts say XRP could close above $3.11 for the week if approved after the shutdown ends. Resistance lies between $3 and $3.65, with support near $2.65.
Regulatory background
Ripple received a boost earlier this year when a US court ruled that XRP was not a security for secondary market sale. This decision provides further legal clarity for XRP in the United States. Still, Ripple’s work on the National Bank Charter continues, and results are expected soon.
For now, the fate of regulation is more important than price trends. Until the SEC resumes operations, no XRP ETF will be launched, no matter how quickly it appears ready to file.
