XRP News Today: November Crypto ETFs Seize SEC's Regulatory Vacuum, Marking Mainstream Finance's Embrace of Digital Assets

Bitwise and Grayscale are accelerating plans to launch XRP and Dogecoin ETFs in November, capitalizing on regulatory shifts and a weakened SEC amid a prolonged government shutdown. The firms have disclosed management fees for their funds — 0.34% for Bitwise's XRP ETF and 0.35% for both Grayscale's XRP and Dogecoin ETFs — while leveraging a streamlined S-1 registration process that allows products to auto-effectuate after 20 days without direct SEC approval, according to a Coinpedia article. This strategy mirrors the success of their recent Solana ETFs, which drew record inflows, and signals a broader push to normalize crypto as a mainstream asset class, per a CoinMarketCap article.

The SEC's reduced staffing, due to a 33-day government shutdown, has created a regulatory vacuum, enabling firms to bypass traditional approval timelines. New listing standards adopted before the shutdown allow finalized S-1 filings to become effective automatically after 20 days, provided they meet requirements, as detailed in a TheCoinrise report. Bitwise's 8(a) filing for its Dogecoin ETF, coupled with Coinbase Custody as its custodian, further underscores the growing institutional confidence in meme coins, according to Coinpedia's filing notice. Meanwhile, Grayscale is following the same path used for its Solana ETF, with experts like Nate Geraci of ETF Store predicting the first XRP ETFs could launch within two weeks, per a Coinpedia update.

The momentum is driven by the success of recent crypto ETFs. Bitwise's SOL ETF attracted $56 million in its debut, the largest ETF launch of the year, while Canary Capital expanded the trend with Litecoin and Hedera ETFs, as previously reported. These developments mark a turning point for the crypto industry, particularly after the SEC's five-year legal battle against Ripple ended in September. Geraci called the upcoming XRP ETFs "the final nail in the coffin of previous anti-crypto regulators," highlighting a regulatory shift toward accommodation, as noted in the CoinMarketCap piece.

For Dogecoin, the ETF filings could catalyze a surge in demand. The coin's price rose nearly 1% following Bitwise's 8(a) filing, outperforming a broader crypto market slump reported earlier. If approved, Dogecoin would become the first altcoin with a U.S.-listed spot ETF, offering institutional and retail investors regulated exposure to the meme coin. This aligns with broader trends of crypto adoption, as firms like Bitwise and Grayscale continue to bridge the gap between digital assets and traditional finance.