The U.S. Securities and Exchange Commission (SEC) has issued new guidance to expedite the approval process for crypto ETFs following a backlog of over 900 registration documents accumulated during the recent government shutdown. According to Bloomberg analyst Eric Balchunas, the SEC's guidance allows registration statements submitted during the shutdown to automatically become effective after 20 days if they lack a delay-in-time clause. Issuers can also apply for expedited effectiveness by adding such a clause. This development could accelerate the listing process for several crypto ETFs, with Bitwise's XRP ETF highlighted as a potential candidate for expedited approval. The SEC's move aims to clear the backlog swiftly, potentially benefiting issuers who have yet to complete the 8(a) process.