After more than 40 days, the United States government shutdown is coming to an end, sparking optimism in financial markets, especially within the cryptocurrency sector. A bipartisan deal reached in the Senate on November 9, 2025, paves the way for the government's reopening, pending passage in the House of Representatives and the President's signature. This development has fueled a crypto market rally, with XRP leading the charge, driven by renewed hopes for regulatory clarity and the potential approval of spot Exchange-Traded Funds (ETFs).
The prolonged shutdown significantly impacted the Securities and Exchange Commission (SEC), causing delays in critical regulatory matters, including the review of crypto ETF applications. With the government set to reopen, the market anticipates a potential "floodgate" of approvals for these ETFs, potentially unlocking billions in institutional investments.
XRP has emerged as a standout performer amidst this positive sentiment. On November 9, 2025, XRP surged approximately 10%, briefly reaching $3.10, outperforming Bitcoin and Ethereum. This surge underscores the market's expectation that the end of the shutdown will alleviate regulatory bottlenecks and inject much-needed liquidity into the financial system, benefiting risk assets like digital currencies.
Nate Geraci, President of NovaDius Wealth Management, anticipates that the end of the government shutdown will lead to the opening of "spot crypto ETF floodgates". Canary Funds is reportedly aiming to launch the first XRP ETF as early as November 13, 2025. According to FXLeaders, Canary Capital has updated its filing in anticipation of a November 13 launch. Other issuers, including Bitwise, 21Shares, and Franklin Templeton, have also refreshed their registration documents.
The potential launch of an XRP-spot ETF could significantly boost market sentiment amid expectations of strong institutional demand. Five spot XRP ETFs have already been added to the Depository Trust & Clearing Corporation's (DTCC) active roster, signaling readiness for launch. These include the Bitwise XRP ETF (XRP), Franklin Templeton XRP Trust (XRPZ), 21Shares XRP ETF (TOXR), Canary Capital XRP ETF (XRPC), and CoinShares XRP ETF (XRPL). While the DTCC listing is not an official SEC approval, it is considered a crucial step before launch.
Bloomberg ETF analyst Eric Balchunas noted that the 21Shares filing starts a 20-day waiting period, potentially setting its debut within November if no further holdups occur. Bitwise Chief Investment Officer Matt Hougan believes that these funds could "easily become" billion-dollar investment vehicles within their first few months of trading, citing strong institutional interest and the success of Solana and Bitcoin spot ETFs as examples.
The resolution of the government shutdown and the anticipated influx of institutional investment through XRP-spot ETFs could trigger the "largest XRP rally ever," according to financial expert Levi Rietveld. This event underscores the increasing institutional interest in cryptocurrencies and the demand for regulated investment vehicles like spot ETFs. The progress in regulatory matters is seen as a critical driver for market growth, potentially paving the way for similar products for other digital assets.
