Crypto Industry Awaits Final Decisions on 16 Crypto ETFs This Month

Crypto Industry Awaits Final Decisions on 16 Crypto ETFs This Month

The crypto industry is anxiously awaiting final rulings on 16 crypto ETFs, including funds focused on Solana, XRP, Litecoin and Dogecoin. The US federal government has entered its third week of shutdown, which is also holding up the work of the US Securities and Exchange Commission (SEC), which is responsible for approving ETFs. If the shutdown continues into November, the impact could be even greater, as decisions are yet to be made.

Why is this important for crypto?

The SEC was due to make final decisions on at least 16 crypto ETFs in October, and filed applications for 21 more in the first eight days of October. But the government shutdown has completely delayed the deadlines and no action has been taken.

The situation is uncertain and there is no clear timetable. Both chambers of Congress remain without a budget deal: Republicans are pushing for spending cuts and debt control, while Democrats are pushing for expanded health care and tax breaks. This means that neither the Senate nor the House of Representatives have a short-term path to funding approval. Once the bills are approved, President Donald Trump can sign them, ending the cryptocurrency shutdown.

What does this mean for the cryptocurrency market? Once the shutdown is over and the government is operating normally, analysts expect a quick recovery: according to Nat Geraci of NovaDius Wealth Management, opening the door to spot ETFs could translate into a massive surge in fund approvals and accelerate investor interest in cryptocurrencies. Analysts, in turn, warn that the approval of all proposed ETFs could spark a new altcoin season, as lower-risk projects gain greater exposure.

*This is not an investment recommendation.

The Coingarage Team