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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 14, 2025 04:01 UTC
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XRP ETFs Launch Delayed? Expert Says Ignore ‘October 19b-4 Deadlines’
SEC streamlines crypto ETF approvals with new Generic Listing Standards, but the U.S. government shutdown halts all progress on XRP and Solana ETF launches.
Despite XRP’s 160% volume surge and ETF optimism, actual launches await SEC reopening—October 19b-4 deadlines aren’t ETF approval dates.
Two recent SEC decisions are changing how crypto exchange-traded funds (ETFs) come to market. But despite rising excitement, experts say an ETFs might not launch in October and that the much-discussed October 19b-4 deadlines are not actual launch dates.
SEC Simplifies ETF Approvals
The U.S. Securities and Exchange Commission (SEC) has agreed to streamline how ETFs are approved, replacing the slow case-by-case approach with Generic Listing Standards (GLS).
The change will allow crypto ETFs to be listed more efficiently once other regulatory steps are complete. The SEC also allowed Dimensional Fund Advisors to add an ETF share class to its mutual funds, and more than 70 fund companies are waiting to do the same.
However, progress is now paused. The ongoing U.S. government shutdown has furloughed SEC staff, including those who review and process ETF registrations. Until the government reopens, no new ETFs can move forward.
“Ignore the October Deadlines,” Analyst Explains
ETF analyst Xethalis said that investors are misunderstanding what the October 19b-4 filings mean.
“Basically we’re waiting on the government to reopen (probably).,” he explained. “Litecoin 19b4 deadline was Oct 2. Solana 19b4 deadline was Oct 10. Those (as well as for XRP, BCH and AVAX, etc) were obviated by the Generic Listing Standards (GLS).”
The 19b-4 process covers exchange rule filings, not ETF launch approvals. These filings were cleared, but each fund must still complete registration under the 1933 and 1934 Acts. That includes submitting Form S-1 and Form 8-A, both of which need SEC review.
Since those reviews are paused, no ETF can go live yet. Xethalis said that some issuers, like Canary LTC, Bitwise SOL, and Grayscale SOL, have removed “delaying amendments” to speed up approval. But this does not mean a Halloween launch is guaranteed.
What Happens Next
When the government reopens, exchanges such as NYSE Arca, CBOE BZX, and NASDAQ could start listing these ETFs. The groundwork is ready. Many spot crypto ETPs — including those for Solana (SOL) and Litecoin (LTC) — have cleared their main rule steps.
Still, it’s a waiting game.
XRP Price Moves With the News
The uncertainty around ETF timing hasn’t stopped XRP from moving sharply. After a 41% flash, XRP recovered to $2.40 and is holding above support as trading activity jumps.
Volumes are up 160% from the monthly average as both retail and institutional players adjust their positions. The SEC was expected to review several spot XRP ETF filings from Grayscale, Bitwise, 21Shares, and WisdomTree between October 18 and 25, but those dates are now uncertain.
If approvals come after the shutdown ends, analysts say XRP could push for a weekly close above $3.11. Resistance remains between $3 and $3.65, with support near $2.65.
Regulatory Context
Ripple gained ground earlier this year when a U.S. court ruled that XRP is not a security in secondary market sales. The decision gave XRP more legal clarity in the U.S. Still, Ripple’s push for a national banking charter continues, and the outcome is expected soon.
For now, the regulatory path matters more than price action. Until the SEC resumes operations, no XRP ETF can launch, no matter how soon filings appear to be ready.
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FAQs
After the government reopens, the SEC must review each fund’s S-1 registration statement. Exchanges are already prepared, but final approval timing is uncertain.
The 19b-4 approves an exchange’s rule change. Each ETF must also have its S-1 registration statement declared effective by the SEC, which is the final launch gate.
Key SEC decisions on several spot XRP ETF applications are expected between October 18 and 25, 2024, starting with a ruling on Grayscale’s filing this week.
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