Analysis: The U.S. government shutdown delays the approval progress of multiple cryptocurrency ETFs

ChainCatcher news, according to Crypto In America, the U.S. government shutdown has led to limited operations at the SEC, causing the approval process for several cryptocurrency ETF products to be forced to pause. Reportedly, spot ETF products including Litecoin, Solana, and XRP will have to wait until the government resumes operations to continue progressing.

The SEC is currently only able to handle matters involving fraud and market emergencies, while regular approval work is on hold. Bloomberg senior ETF analyst Eric Balchunas likened this situation to "rain delay."

Previously, the SEC had requested several cryptocurrency ETF issuers' cooperating exchanges to withdraw their 19b-4 application documents. It is expected that after the government shutdown ends, there may be a wave of concentrated approvals for cryptocurrency ETFs.