Optimism Builds as Crypto ETF Decisions Near Despite SEC Filing Withdrawals

Momentum is growing around the launch of new crypto exchange-traded funds (ETFs), even after regulators recently asked issuers to pull several filings.

The SEC instructed companies to withdraw applications tied to spot products for XRP, Solana, Cardano, Dogecoin, and Litecoin, raising brief uncertainty in the market.

Analysts, however, view the move as largely procedural. Bloomberg’s Eric Balchunas explained that updated listing rules have made some older 19b-4 submissions unnecessary, describing eventual approval as “virtually certain.” According to him, the final step is clearance from the SEC’s Corporation Finance division, rather than a new round of delays.

Balchunas even went further on social media, saying the odds of approval are effectively 100%. In his view, the process is now a matter of waiting for paperwork, not debating the merits of the products. He pointed to Solana’s latest amendment filing as evidence that issuers are preparing for imminent clearance. While nothing is official until the SEC gives the green light, his remarks underscore just how confident industry watchers have become.

October Deadlines Approach

Attention now shifts to a wave of decisions expected this month. Multiple firms, including Grayscale, 21Shares, Bitwise, Canary Capital, CoinShares, and WisdomTree, have XRP ETF applications under review, with deadlines clustered between October 18 and October 24. The SEC’s decision to cancel previous postponements has fueled speculation that outcomes may arrive sooner than expected.

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Investor Sentiment Turns Bullish

Excitement has already spilled into the market. Analyst EGRAG Crypto has compared the current setup to past XRP cycles, noting explosive rallies of 350% in 2017 and over 100% in 2021. Based on those patterns, he suggests XRP could eventually target $33 if history rhymes.

For now, XRP trades just under $2.90, sitting well below its all-time high but within a consolidation zone many traders interpret as a staging ground. With ETF anticipation mounting, optimism remains strong that a breakout could follow once approvals land.