The U.S. government looks ready to end its shutdown this week. That’s good news for most markets, but for the crypto ETF sector, it might actually slow things down.
A crypto ETF lets people buy coins like Bitcoin or XRP through the stock market — without owning the coins themselves.
Right now, three coins, XRP, LINK, and DOGE, are the ones everyone’s watching. Their ETF filings moved quickly when parts of the government were closed, but once offices reopen, reviews may take longer again.
Shutdown Deal Could Slow Crypto ETF Progress
During the shutdown, the Securities and Exchange Commission (SEC) was working with limited staff. That meant some ETF applications could slip through automatically if they weren’t reviewed in time.
It’s rare, but it happens when the SEC isn’t fully staffed. Now, lawmakers are trying to pass a deal that would officially reopen everything.
If it passes this week, the SEC will go back to full review mode, and that means longer checks and slower approvals.
For traders, timing matters. If the shutdown lasts a few more days, one or two ETFs might still clear early. But if it ends right away, the pending approvals could be pushed to December or beyond.
XRP, LINK, and DOGE ETFs Are Close to Approval
The Canary XRP ETF may be the closest to launch. Bloomberg analyst Eric Balchunas confirmed that Canary filed a Form 8-A, which is the last step before a listing on the Nasdaq exchange.
This form allows a company to officially register its ETF shares for trading. If everything checks out, the XRP ETF could go live as early as Thursday.
At the same time, Bitwise, a major investment firm that manages crypto funds, is preparing several ETF products, including ones for DOGE and Chainlink (LINK).
Bitwise’s LINK ETF (ticker CLNK) has already appeared on the DTCC listing system.
The Depository Trust & Clearing Corporation (DTCC) is the main organization that clears and settles trades for U.S. markets. Being added to its list doesn’t mean approval yet, but it shows that trading systems are being set up in advance.
According to Bloomberg data, there have been more than 155 crypto ETF filings since 2024. Solana and Bitcoin lead with 23 filings each, followed by XRP with 20 and Ethereum with 10.
This shows how quickly traditional financial firms are moving to launch products linked to digital coins.
Crypto ETF: Market Watches What Happens Next
The Senate is expected to vote on the shutdown deal soon, possibly by Wednesday. If it passes, the SEC will resume normal work, ending the short period of automatic ETF progress.
That could mean slower approvals for XRP, LINK, and DOGE, at least for now. It is worth mentioning that the price action of these tokens isn’t at its strongest.
With DOGE fighting to hold onto the $0.17 mark and XRP still under $2.50, a delay in ETF approvals could lead to a sentiment-driven price breakdown.
Still, even one early approval could lift confidence across the market. ETFs often attract large investors who bring more money into crypto, helping prices rise.
If these ETFs are delayed, traders might stay cautious until new decisions are made. In short, crypto’s next major move could depend on the timing of this shutdown deal.
If it ends soon, crypto ETF approvals might pause. If it drags on, some coin-specific ETFs like XRP, LINK, or DOGE could slip through and give the market a surprise boost.