Coinbase Maintenance Falls on XRP ETF Decision Day, Is This Coincidence

XRP analyst ChartNerd has drawn attention to a curious overlap between Coinbase’s scheduled system upgrade and an expected SEC decision date for spot XRP ETFs.

Coinbase Announces Maintenance Window

Additionally, futures and derivatives trading will be unavailable from 4:00 AM to 1:00 PM PT due to overlapping maintenance, further tightening trading activity on one of the busiest crypto platforms in the U.S.

XRP ETF Decisions Approaching

The timing is particularly notable as several spot XRP ETF filings are approaching their anticipated SEC decision dates. These include applications from:

• Grayscale (October 18)
• 21Shares (October 19)
• Bitwise (October 22)
• Canary Capital (October 23)
• CoinShares (October 23)
• WisdomTree (October 24)

However, note that industry commentators like Eleanor Terrett have said these initial approval deadlines will no longer be effective, since the SEC asked issuers to withdraw their 19b-4 forms. In other words, the original October deadlines have become an invalid timeline for XRP ETFs to launch.

Nonetheless, issuers submitted amended S-1 filings with ticker symbols last week. This is a procedural step that typically comes shortly before final approval. This includes Grayscale’s GXRP, Franklin Templeton’s XRPZ, and Canary’s XRPC.

Essentially, the move indicates growing readiness among issuers for a launch once the SEC declares their S-1s effective.

Shutdown Uncertainty Still Looms

Despite rising anticipation, the U.S. government shutdown continues to cast a shadow over the approval timeline. The SEC’s limited operations have delayed some registration processes, meaning that even prepared ETFs may not launch until full functionality is restored.

Still, the coordinated filings and Coinbase’s planned system downtime have fueled speculation that significant backend preparations could be underway in anticipation of eventual XRP ETF trading activity.

Notably, Coinbase is one of the U.S. exchanges that relisted XRP post-lawsuit. Moreover, as the largest U.S. crypto trading platform, it stands as a key avenue for XRP trading once approvals come up.

With no certain timeline for XRP ETFs to go live, the overlap between Coinbase’s maintenance and some earlier ETF dates may ultimately prove coincidental, even as XRP supporters continue to speculate on its significance.