The U.S. Senate voted to end the longest government shutdown in American history, invoking cloture on a funding measure that paves the way for federal agencies like the SEC, CFTC, and OCC to resume operations. This bipartisan agreement, expected to be finalized by the House, has triggered a wave of optimism across financial markets, with crypto assets rallying sharply.
Digital currencies saw significant gains following the news, with XRP surging 12.33% to $2.56, Bitcoin rising over 3.6% to $106,486, and Ethereum gaining 4.65% to $3,615. The rebound reversed a weak period marked by declining retail volume and ETF outflows, as investors bet on renewed regulatory stability and progress.
Key regulatory agencies, including the SEC, are set to reactivate, potentially accelerating ETF processing and enforcement reviews. This development is critical for Canary Capital’s XRP Spot ETF, which could debut on Nasdaq as early as Thursday under Section 8(a) of the Securities Act of 1933. By removing the 'delaying amendment' from its S-1 filing, the ETF may automatically become effective after a 20-day waiting period, similar to recent Solana ETF launches.
ETF expert Nate Geraci highlighted the convergence of the government reopening and DTCC listings, noting that multiple XRP ETF applicants—including Bitwise, CoinShares, 21Shares, and Franklin—are now on the 'active and pre-launch' roster. However, DTCC clarifications emphasize that these listings do not equate to regulatory approval. Bloomberg analyst Eric Balchunas pointed out that the XRP filings lacked the traditional SEC comment exchange, suggesting potential compliance.
If launched, the XRP ETF would mark a historic milestone, validating the asset's role in cross-border payments and institutional finance, amid ongoing legal challenges with the SEC.
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