The reopening of the United States government after the Senate agreement on November 10, 2025 has reactivated the regulatory machinery and, with it, the possibility that approvals of crypto ETFs will accelerate. The operational restoration promises to translate into institutional flow and rapid changes in the product offering.
The temporary shutdown of the federal apparatus blocked key regulatory decisions and generated a backlog of pending applications; with the reopening, the SEC can resume reviews that had been on hold. This clearing of the pipeline is central to the timing of potential approvals and launches.
Among the notable procedural modifications are the adoption of generic listing standards and the proposal to replace 19b‑4 filings with a single S‑1 registration, steps that, according to cited sources, could reduce approval timelines to between 20 and 75 days. These streamlining measures target faster, more predictable paths from filing to market.
On July 29, 2025 the SEC also authorized in‑kind creations and redemptions for crypto ETPs, aligning their mechanics with those of commodity ETFs; in‑kind allows exchanging actual assets instead of cash during the creation or redemption process, reducing operational frictions and potentially improving market efficiency.
The DTCC’s list with 11 products linked to XRP indicates that the trading infrastructure is ready and can minimize delays after formal approval. However, the SEC has shown caution in the past and some approvals or pauses in reviews show that administrative simplification does not guarantee automatic sign‑off.
ETF market, flows and assets to watch
In the most recent reaction, Bitcoin rose more than 3% in 24 hours to recover $105,000, Ethereum gained more than 5% sitting near $3,622, and XRP and Solana recorded moves of around 6%, with spot peaks of 10% in XRP driven by higher volume and futures activity. These shifts reflect the sensitivity of prices to regulatory momentum.
Historically, the end of government shutdowns has coincided with strong rallies —for example, a near 300% rise in Bitcoin in the five months following the 2018‑2019 shutdown—, but those comparisons do not guarantee replication, reminding participants to calibrate expectations.
The altcoin pipeline shows clear signs of institutionalization: XRP appears with 11 products on the DTCC and recent launches —Canary Capital raised almost $250 million on its debut—; Solana has 23 filings and debuts of ETFs with staking (REX‑Osprey attracted $12 million on the first day); Dogecoin and Litecoin have multiple filings and approval probabilities estimated by market analysts. This breadth underscores the expanding scope beyond Bitcoin.
The framework of the Investment Company Act of 1940 (’40 Act) offers a faster route for certain indexed or structured funds; this framework allows for more expedited marketing when funds invest in already regulated assets or futures contracts. For traders and managers, the main operational implication is increased liquidity and the possible rotation of capital from BTC into altcoins with regulatory wrappers, which can reduce spreads and alter funding and basis dynamics. There is also a risk that the arrival of institutional leverage will amplify price movements in both directions.
The reopening of the U.S. government has reactivated a regulatory process capable of accelerating the arrival of crypto ETFs and attracting billions in liquidity; the effect will be greater if the SEC fully implements its procedural changes.
