Another historic turning point has occurred in the US as Bitcoin (BTC) and altcoins have experienced sharp declines over the past 24 hours.
At this time, the first XRP ETF was also launched, following Solana, Litecoin, and Hedera.
The Canary Capital XRP ETF started trading as the first XRP ETF in the U.S., but it has been stated that the next ETF to be added to the list will be the Bitwise XRP ETF.
In a post from his X account, Bloomberg senior ETF analyst Eric Balchunas predicted that Bitwise’s XRP ETF will be the next ETF to be listed on the exchange.
Balchunas said there is now a possibility that the U.S. Securities and Exchange Commission (SEC) will expedite the approval process for crypto ETFs.
At this point, Mr. Balciunas noted that the SEC has issued guidelines encouraging the use of 8(a) procedures to expedite the backlog of claims resulting from the government shutdown.
Balciunas suggested that some ETF issuers that have not previously used this method will now seize the opportunity to get approval as soon as possible.
The SEC has issued guidance suggesting that issuers can expedite filing effectiveness to address filing backlogs.
My guess is that issuers that have not previously implemented the 8A methodology will look to launch crypto ETFs as soon as possible. I think the next one is Bitwise XRP.
The 8(a) procedure is a non-standard listing method in which a product automatically becomes active after a specified period of time without going through a formal SEC approval process.
*This is not investment advice.
