Here is the Next Timeline for XRP ETFs Approval As October Ends

As October ends without an SEC decision on the pending XRP ETF applications, a new potential launch timeline for the products is now on the horizon.

For context, the final decision deadlines for the XRP ETF applications submitted by Grayscale, 21Shares, Bitwise, and Canary Capital were scheduled for October 18, 19, 22, and 23, respectively.

Accordingly, XRP community members entered October with high expectations for the launch of several spot XRP ETFs. However, their optimism was soon dampened as the U.S. government commenced a prolonged shutdown, delaying the SEC’s approval process.

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Government Shutdown Delays SEC Decision on XRP ETFs 

Due to the shutdown, the SEC significantly reduced its operational capacity. It retained only essential staff responsible for handling inquiries and addressing fraud and market manipulation. 

Notably, the Division of Corporation Finance, which is tasked with approving new investment products such as the XRP ETF, was among those impacted. This resulted in further delays to the XRP ETF launch.

As October comes to a close, a new timeline for the launch of XRP ETFs has emerged. 

Next Timeline for XRP ETF Launch 

According to Eleanor Terrett, host of Crypto in America, Canary Capital recently filed an updated S-1 registration statement with the SEC for its spot XRP ETF.

In the updated filing, Canary removed the “delaying amendment” clause from its XRP ETF application. Notably, this clause typically gives the SEC control over when a product can become effective. 

Following the update, Canary’s XRP ETF is now set to automatically take effect 20 days after its filing, making November 13 the potential launch date. However, the launch is dependent on Nasdaq approving Canary’s accompanying Form 8-A filing, which lists the ETF shares for trading. 

🚨SCOOP: @CanaryFunds has filed an updated S-1 for its $XRP spot ETF, removing the “delaying amendment” that stops a registration from going auto-effective and gives the @SECGov control over timing.

This sets Canary’s $XRP ETF up for a launch date of November 13, assuming the… pic.twitter.com/MKvEN23t5P

— Eleanor Terrett (@EleanorTerrett) October 30, 2025

In the meantime, Terrett suggested that the timeline could change if the government reopens and the SEC staff proposes additional comments.

Notably, Canary and Bitwise leveraged the amendment to launch spot ETFs separately tied to Litecoin, Solana, and Hedera earlier this week. 

Meanwhile, Terrett noted that SEC Chair Paul Atkins recently signaled his support for companies using the 20-day auto-effective mechanism to roll out new products or go public. 

As Canary moves to leverage the auto-effective mechanism to launch its XRP ETF, other prospective issuers, including Bitwise, 21Shares, CoinShares, Grayscale, and WisdomTree, may follow suit in a bid to bring their respective spot XRP ETFs to market by November. 

Expert Remains Skeptical 

Notably, Bloomberg ETF analyst Eric Balchunas pointed out that XRP ETF issuers have not engaged in the same level of dialogue with the SEC as Solana ETF issuers did. According to him, that engagement gave Solana ETF issuers the confidence that their products were ready for launch. 

While Balchunas remains skeptical about whether the XRP ETFs are fully prepared to go live, he acknowledged that Canary’s decision to pursue the auto-effective route is worth trying.