"U.S. SEC may be able to speed up ETF approval process… Bitwise's XRP ETF is the next candidate"

A prospect has emerged that the U.S. Securities and Exchange Commission (SEC) may speed up approval of crypto asset (cryptocurrency) ETFs.

On the 14th (local time), Eric Balchunas, a Bloomberg ETF analyst, said on X·formerly Twitter, "The SEC disclosed that it could make registration documents take effect more quickly at the issuer's request." He said, "This measure could lead some crypto asset (cryptocurrency) ETFs to try to move up their launch timing," adding, "Bitwise's XRP spot ETF appears likely to be the next approval target."

According to the Q&A materials the SEC released, it is stated that △registration documents submitted during the shutdown can be subject to accelerated review if the issuer requests it (item 7), and △even if an amendment is removed or a new registration is submitted, the issuer can request to bring forward the effective date (item 3). This means the SEC can operate procedures with some flexibility to resolve the backlog of filings delayed by the shutdown.