US gov shutdown enters 3rd week with ETF ‘floodgates’ ready to burst

The crypto industry is awaiting a final decision on 16 crypto exchange-traded funds this month, including funds tracking Solana, XRP, Litecoin and Dogecoin.

America’s federal government has entered its third week of shutdown, leaving as many as 16 exchange-traded funds (ETF) awaiting approval should the shutdown continue into November.

Most of the US government came to a standstill on Oct. 1 when the Republicans and Democrats failed to reach a funding agreement. This has caused agencies, including the US Securities and Exchange Commission, which approves ETF applications, to run with only essential staff. 

The crypto industry was set for a flood of ETFs in October, with the SEC set to make their final decisions on at least 16 crypto ETFs, and another 21 applications filed in the first eight days of October, but the shutdown has left everything in limbo, with deadlines passing and no action taken.

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