While Bitcoin (BTC) and altcoins experienced sharp declines in the last 24 hours, another historic turning point occurred in the United States. At this point, the first XRP ETFs were also launched after Solana, Litecoin, and Hedera. While the Canary Capital XRP ETF began trading as the first XRP ETF in the US, it was stated that the next ETF to be added to the list will be the Bitwise XRP ETF. Bloomberg senior ETF analyst Eric Balchunas predicted in his post from his X account that Bitwise’s XRP ETF will be the next ETF to be listed on the exchange. Balchunas said that the possibility has emerged that the U.S. Securities and Exchange Commission (SEC) may expedite the approval process for cryptocurrency ETFs. At this point, Balchunas noted that the SEC has issued guidelines encouraging the use of the 8(a) procedure to quickly process the backlog of applications due to the government shutdown. Balchunas suggested that some ETF issuers who had not previously used this method will now seize the opportunity to gain approval as quickly as possible. The SEC has issued guidance suggesting that issuers can expedite the effectiveness of filings to address their backlog of applications. My guess is that issuers that haven't implemented the 8A method to date will try to launch crypto ETFs as soon as possible. I think Bitwise XRP is next. The 8(a) procedure is a non-standard listing method that allows a product to automatically become effective after a specified period of time without going through the formal SEC approval process. *This is not investment advice. Continue Reading: SEC Takes Major Step for Delayed Altcoin ETFs! Bloomberg Analyst Reveals Next ETF!
