One of Trump’s advisers has hinted that the US Government shutdown could come to an end this week. This development could open the doors for the XRP ETF filings awaiting the SEC’s approval.
White House Advisor Hints at Resolution This Week
White House economic adviser Kevin Hassett told CNBC on Monday that the “Schumer shutdown is likely to end sometime this week.” He referenced Senate Minority Leader Chuck Schumer, whom Republicans blame for the budget deadlock.
Hassett, a close Trump ally and one of his top three candidates to succeed Jerome Powell as Federal Reserve chair in 2026, said moderate Democrats could soon reach a compromise that reopens the government.
“Once the government is open, negotiations can resume in regular order,” he noted. He suggested that failing that, the Trump administration might impose “stronger measures” to secure cooperation.
Hassett, who earlier disclosed holding over $1 million in Coinbase shares, has been a supporter of digital assets and blockchain innovation. Even as the US Government Shutdown drags on, regulatory momentum hasn’t completely stalled.
Democratic senators are planning to meet behind closed doors this week with representatives from Coinbase, Circle, Ripple, and other significant cryptocurrency companies. Discussion of the proposed U.S. crypto market structure bill and the identification of bipartisan avenues for the advancement of digital asset legislation are the objectives of the session.
XRP ETF Rulings Could See Multiple Approvals
In light of the government funding lapse, the U.S. SEC recently confirmed that it is reducing its operations. All evaluations of newly filed financial products, including funds based on cryptocurrency, were temporarily put on hold.
Consequently, until a funding bill is passed by Congress, decisions regarding XRP ETFs and other pending applications have been essentially put on hold.
Once the US Government Shutdown ends, the SEC is expected to resume its review of six XRP ETF filings. Key applicants include Grayscale, 21Shares, Bitwise, Canary Capital, CoinShares, and WisdomTree.
Institutional interest in crypto ETFs is still high despite the regulatory hold-ups brought on by the US Government Shutdown. According to a recent insight by Rick Wurster, CEO of Charles Schwab, the company’s clients own about 20% of all cryptocurrency ETFs in the United States. This indicates a high level of engagement in spite of the uncertainty.
Over the past year, website traffic to Schwab’s crypto investment portal has increased by 90%. This highlights the growing interest of the general public. Additionally, the SEC received more than five new crypto ETF applications over the past week alone. This suggests that well-known asset managers are getting ready for a post-shutdown increase in regulatory activity.
