Expectations for potential XRP Exchange Traded Fund (ETF) approvals remain high for October, with the U.S. Securities and Exchange Commission (SEC) anticipated to make decisions on six distinct applications. Specific dates have been eyed for these decisions, including Grayscale XRP ETF (October 18), 21Shares Core XRP Trust ETF (October 19), Bitwise XRP ETF (October 22), Canary Capital XRP ETF (October 23), WisdomTree XRP ETF (October 24), and CoinShares XRP ETF (October 23).

A significant development in the pursuit of these approvals has been the recent submission of S-1 amendments by several issuers of spot XRP ETFs. Nate Geraci, president of NovaDius Wealth, highlighted this trend, noting that a fresh batch of S-1 amendments had been filed by prominent entities such as Bitwise, Franklin, 21Shares, WisdomTree, Grayscale, and Canary. These amendments notably included the addition of ticker symbols, with Grayscale's filing updating its ticker to "GXRP." Geraci's comment, "Getting close," suggested an impending approval for these instruments.

The importance of these S-1 filings cannot be overstated, as the SEC must approve them before spot ETFs can officially launch. This step is crucial for any commodity trust, even those registered under the 1933 Act, to commence trading.

However, an element of uncertainty looms over these anticipated approvals, stemming from a government shutdown at the start of October, which led the SEC to miss an earlier ETF approval deadline. Crypto reporter Eleanor Terrett indicated that the ongoing shutdown could impede ETF approvals, as the SEC is operating with a skeleton crew and still needs to formally sign off on the S-1 filings. Terrett further speculated that with the generic listing standard now in effect and the agency having asked issuers and partner exchanges to withdraw their 19b4s, the traditional deadlines might become less critical. Consequently, any new spot crypto ETFs, including those tracking XRP, are unlikely to begin trading until the SEC declares their S-1s effective, a process that will likely only occur once the government shutdown concludes and the agency resumes full operational capacity.