What to Know:
- SEC is expediting crypto ETF filings.
- Bitwise XRP ETF could launch sooner than expected.
- Optimism surrounds XRP’s potential performance this November.
The crypto community is buzzing as the SEC updates its filing process, potentially speeding up the launch of new crypto ETFs. This development follows the successful debut of a Canary XRP ETF, igniting anticipation for the next wave of investment products. The focus now shifts to the potential launch of a Bitwise XRP ETF.
The SEC’s Division of Corporation Finance is streamlining the review process to tackle the backlog of over 900 registration statements accumulated during a government shutdown. This move allows issuers who have submitted correct paperwork to request an expedited review, bypassing the typical waiting period. Analyst Eric Balchunas suggests this favors crypto ETFs that didn’t file the 8-A form earlier.
Balchunas speculates that Bitwise’s XRP ETF is likely next in line, aligning with the SEC’s new approach. This could mean an earlier launch than the initially projected date of November 19. The potential for a Bitwise XRP ETF has further fueled optimism regarding XRP’s performance in November.
Despite XRP’s recent sideways trading, investors remain confident in its long-term price outlook. The anticipation of a new ETF, coupled with regulatory developments, contributes to this positive sentiment. The market is closely watching how these factors will influence XRP’s trajectory in the coming weeks.
The potential for an accelerated launch of a Bitwise XRP ETF underscores the evolving landscape of crypto investments. As regulatory frameworks adapt, investors may see increased opportunities to engage with digital assets through regulated investment vehicles.
Source: Original article
