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- Anjali Belgaumkar
Anjali Belgaumkar
Writer by choice, CryptoCurrency Writer, and Researcher by chance. Currently, focusing on financial news and analysis, as well as cryptocurrency news and data. One may not call me a crypto “Enthusiast” but trust me I'm getting there.
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Qadir AKQadir Ak is the founder of Coinpedia. He has over a decade of experience writing about technology and has been covering the blockchain and cryptocurrency space since 2010. He has also interviewed a few prominent experts within the cryptocurrency space.
- Oct 28, 2025 03:52 UTC
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Why XRP Is Missing From the Spot ETF Approvals Set for Tomorrow?
Litecoin (LTC) and Hedera (HBAR) spot ETFs go live on NASDAQ tomorrow amid U.S. government shutdown.
XRP community frustrated as LTC, HBAR, and Solana ETFs move forward while XRP remains excluded.
In a surprising turn of events, spot ETFs for Litecoin (LTC) and Hedera (HBAR) are now officially effective and will begin trading on NASDAQ tomorrow, according to Canary Funds CEO Steven McClurg. Litecoin and Hedera are the next two token ETFs to go effective after Ethereum, and Canary Funds has confirmed their launch tomorrow.
Additionally, Bloomberg’s Senior ETF Analyst Eric Balchunas confirmed that the NYSE has certified the 8-A filings for multiple crypto ETFs, including Bitwise’s spot Solana ETF (SOL) and Grayscale’s GSOL, which will convert on Wednesday.
He said that the Exchange has posted listing notices for Bitwise Solana, Canary Litecoin, and Canary HBAR to launch tomorrow, and Grayscale Solana to convert the day after. Unless there is last-minute SEC intervention, the launches are moving forward.
How Are ETFs Launching During a Government Shutdown?
This set of ETF approvals has raised questions about how such progress is possible during the ongoing U.S. government shutdown. Journalist Eleanor Terrett explained that certain legal provisions allow ETFs to move forward without active SEC oversight.
Under the Securities Exchange Act of 1934, the Form 8-A filing formally registers ETF shares for exchange trading, while the S-1 filing registers them under the Securities Act of 1933.
The NYSE certified all relevant 8-A filings this morning, marking the final procedural step before trading begins. As for the S-1s, issuers included language allowing their registration statements to automatically go effective 20 days after filing, bypassing the need for manual SEC approval.
This mechanism means ETFs can legally go live even when the SEC staff is unavailable, allowing launches to continue uninterrupted despite the shutdown.
However, not every digital asset community is celebrating.
XRP Community Frustrated as Others Move Ahead
While the crypto market welcomes new ETF launches, XRP investors are once again left behind. Legal expert Bill Morgan noted that delays around XRP have become a recurring theme and that the asset continues to be excluded from major developments.
He also said that XRP’s price generally mirrors Bitcoin’s movements, explaining that even multiple ETF approvals would not necessarily drive the token higher if Bitcoin were to fall.
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FAQs
They can launch because ETF filings automatically go effective after 20 days, even if SEC staff are unavailable during a shutdown.
Both spot ETFs are set to begin trading on NASDAQ tomorrow, marking the next phase of crypto ETF expansion after Ethereum.
The LTC and HBAR ETFs expand access to altcoins, signaling broader institutional acceptance of digital assets beyond Bitcoin and Ethereum.
Yes, ETF launches often boost sentiment and liquidity, but overall market impact still depends on Bitcoin’s performance and macro trends.
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