Bitcoin and altcoins continue to experience major declines despite October and November being historically bullish months.
While BTC and altcoins are trying to cope with sharp and sudden declines, new developments are taking place on the altcoin ETF front.
At this point, after Solana (SOL), Litecoin (LTC) and Hedera (HBAR), which started trading last week, the launch of XRP and Dogecoin (DOGE) ETFs may now be approaching.
Management Fees Set for XRP and DOGE ETFs
Bitwise and Grayscale have set the management fee for XRP and DOGE ETFs at 0.34%.
According to The Block, Grayscale has set the management fee for its upcoming XRP and DOGE ETFs at 0.34%.
This decision follows Bitwise's move last weekend, which also set a 0.34% fee for its XRP ETF.
Potential for SEC Approval-Free ETF Listings
Grayscale plans to launch an XRP ETF, following the same path it took with the SOL ETF last week, according to a source close to the company. This means the XRP ETF could be listed without SEC approval, just like the Solana ETF.
These XRP and DOGE ETFs are expected to launch very soon.
Expert Expectations for XRP ETF Launch
At this point, ETF Store President Nate Geraci stated in his post from the X account that he expects the first spot XRP ETFs to be launched in the next two weeks.
I expect the first spot XRP ETFs to launch within the next two weeks.
The SEC has had an open case against Ripple for the past five years, until three months ago. In my opinion, the launch of spot XRP ETFs is the final nail in the coffin of previous anti-crypto regulators.
Navigating Government Shutdowns for ETF Launches
Altcoin ETF launches have raised questions about how such progress could be possible during the ongoing US government shutdown. Experts attribute this to a special clause added to the funds' S-1 registration documents. This clause allows the ETF application to automatically take effect 20 days after it is filed. While SEC approval is normally required, this regulation allows the process to be completed automatically even during the government shutdown.
As you may recall, the SEC recently announced the adoption of a comprehensive listing standard for cryptocurrency ETFs. This standard allows funds that meet certain criteria to be listed without individual approval.