U.S. Crypto ETFs Set for November Boom After SEC Delays

• October was anticipated to be significant for U.S. crypto ETFs, pending SEC rulings.
• A government shutdown halted SEC operations, affecting ETF application processing.
• November is now seen as a potential key month for ETF launches due to legal maneuvers allowing companies to proceed without SEC approval.

October was expected to be a landmark month for U.S. cryptocurrency ETFs (Exchange-Traded Funds) — a time when long-anticipated spot crypto ETFs would finally hit the American financial market. Analysts, traders, and crypto enthusiasts were eagerly waiting for the U.S. Securities and Exchange Commission (SEC) to make key rulings that could reshape the digital asset investment landscape. However, things took an unexpected turn. A U.S. government shutdown halted nearly all non-essential operations, including the SEC’s ability to process ETF applications. With no one at the agency to approve or deny submissions, those long-awaited deadlines simply became meaningless dates on a calendar. Now, as October’s hopes fade, November might become the “new October.” Thanks to a clever legal workaround, several crypto companies have found a way to move forward without needing active SEC approval.

How a Loophole Ignited New ETF Launches

When the government went quiet, a few innovative asset managers refused to wait around. Using an alternative path grounded in U.S. securities law, they began filing updated S-1 registration statements — the official documents companies submit to register new securities — but with one key difference: they added a “no delaying amendment.” Under U.S. law, if the SEC doesn’t take any action within 20 days, the registration automatically becomes effective. In other words, unless the SEC explicitly delays or denies it, the ETF is approved by default after the waiting period. This mechanism allowed four crypto ETFs — two from Canary Capital, one from Bitwise, and one from Grayscale — to begin trading earlier this week, despite the government being partially shut down. It was a quiet yet monumental moment. While not a full victory for the crypto industry, it showed that the ETF race could continue even when Washington stands still.

A New Wave of ETF Filings Hits the Market

That early success didn’t go unnoticed. It sparked what analysts are calling a “second wave” of ETF filings — companies rushing to use the same automatic-approval strategy before the SEC resumes full operations. On Thursday, two major filings made headlines:

• Fidelity submitted an updated S-1 for its Spot Solana ETF, aiming to list the fund by mid-November.
• Canary Capital followed up with an S-1 for its XRP ETF, potentially the first-ever XRP-based fund to trade in the U.S.

If the SEC continues its silence, the XRP ETF could officially launch by November 13, according to legal timelines. This has created a buzz among both institutional investors and retail traders, who see this as the next big moment for crypto mainstream adoption in the United States.

The SEC’s Limited Oversight During the Shutdown

However, this newfound momentum isn’t without complications. While some ETF filings — particularly those linked to Solana (SOL), Hedera (HBAR), and Litecoin (LTC) — have already undergone initial SEC review, others have not. The XRP ETF is among the latter. Because the SEC hasn’t provided any prior feedback or review for it, some analysts warn that the agency could intervene at the last minute and pause its automatic approval once operations resume. ETF expert James Seyffart from Bloomberg Intelligence summarized it well:

“I think it’s possible we see a bunch of funds launch next month. That could happen even if the government stays closed. But some funds haven’t received any feedback on their S-1 forms. Without that, I’m not sure they can launch until the SEC gets back to work.”

This quote highlights a critical uncertainty: regulatory silence doesn’t always mean approval. The SEC could still retroactively review or suspend these ETFs if it believes investor protections or compliance standards were compromised.

Investors React to Legal Workaround

For investors, this situation has created both opportunity and confusion. On one hand, the possibility of multiple new crypto ETFs hitting the market by November has reignited optimism in a space that has long battled regulatory resistance. On the other hand, the reliance on automatic approvals raises questions about regulatory oversight and investor safety. ETFs are meant to be highly regulated products, and their legitimacy depends on thorough vetting by the SEC. Still, the enthusiasm is undeniable. Online forums and trading communities are buzzing with discussions about which crypto assets might be next in line for ETF status. XRP’s possible debut has especially caught attention — not just because of its popularity, but because it symbolizes a broader shift in how the crypto industry navigates U.S. law.

November could truly become the “new October” for crypto ETFs in the U.S. What began as a delay caused by a government shutdown has evolved into a test of creativity, legal strategy, and market determination. By leveraging automatic approvals and regulatory loopholes, asset managers are proving that innovation won’t be stopped — even when Washington goes quiet. As investors and institutions watch closely, the coming weeks may redefine how crypto funds enter mainstream finance. Whether through official approval or regulatory default, one thing remains clear: the U.S. crypto ETF era is just beginning, and November might mark the start of a new chapter in digital asset history.

Disclaimer: CryptopianNews shares this for learning and info only. It’s not meant to be financial or investment advice. Crypto markets change a lot and move quickly. Investing in them can be risky. You should always look into things yourself. Talk to a trained financial advisor before making any choices about investing.