The US is preparing to launch new crypto ETFs in November.
Date: 2025-11-03 Author: Gabriel Deangelo Categories: CRYPTO PAYMENTS
October 2025 was expected to be the critical milestone for the approval of crypto exchange-traded funds (ETFs) in the US, but the government shutdown temporarily put the process on hold. Now, experts predict November will be a new start for crypto funds, as companies have begun implementing mechanisms that allow them to launch ETFs even without direct approval from the US Securities and Exchange Commission (SEC).
Earlier this week, four new products were launched on the exchange: two funds from Canary Capital, as well as one each from Bitwise and Grayscale. This was made possible by so-called "tacit approval": under US law, if the SEC does not raise any objections within 20 days of filing a Form S-1, the fund can be launched automatically.
Earlier, on October 28, three spot crypto funds based on Solana (BSOL), Litecoin (LTCC), and Hedera (HBR) entered the market. Their combined trading volume on the first day reached nearly $68 million. Bloomberg Intelligence analyst Eric Balchunas noted that BSOL was the most successful ETF debut of 2025.
Against these developments, Fidelity updated its application to launch a spot Solana ETF, and Canary Capital renewed its application for an XRP ETF. If the SEC does not intervene, the first XRP-based fund could launch as early as November 13.
However, not all market participants are ready for an immediate launch. According to Bloomberg Intelligence analyst James Seyffarth, much depends on the regulator's promptness: "Some funds could enter the market as early as November, even without the government reopening. However, there are projects that have not yet received any comments from the SEC, meaning their launch is in doubt."
The current situation demonstrates a significant shift in the approach to creating spot cryptocurrency ETFs. Previously, issuers relied on formal regulatory approval, but now they have the ability to operate within a framework that allows them to move forward even amid bureaucratic delays.
According to Grayscale experts, Solana ETFs have the potential to accumulate over 5% of the total SOL token supply in circulation, despite increased market competition.
Eric Balchunas adds that by the end of 2026, the number of applications for cryptocurrency ETFs could exceed 200, indicating rapidly growing institutional investor interest in digital assets.
Therefore, November could become a key month for the US crypto market, paving the way for a new wave of integration of digital assets into traditional financial instruments.
