October was set to be a pivotal month for crypto ETFs in the U.S., but the government shutdown halted the SEC's decision-making process. As deadlines came and went without approvals, ETF issuers turned to alternative methods to launch their products. This week, four crypto ETFs began trading through a procedural loophole that allowed them to bypass the typical SEC sign-off. This included two from Canary Capital, one from Bitwise, and one from Grayscale. Following this success, Fidelity and Canary Capital filed updated S-1 registration statements, using language that could enable new ETFs to go live as soon as November 13. This strategy relies on U.S. securities law, which allows filings to automatically become effective unless the SEC intervenes. However, there are potential limits to this workaround. The SEC has reviewed ETFs for Solana, HBAR, and Litecoin but has not provided feedback on the XRP application, which may complicate future launches. James Seyffart, an ETF analyst at Bloomberg Intelligence, noted that while several funds could launch next month, others might struggle without SEC feedback. Investors are witnessing a shift in the approach to crypto ETFs, moving away from waiting for formal approvals to utilizing procedural tactics. The situation remains fluid, hinging on the SEC's actions and the status of the government shutdown.