If Congress fails to agree on a funding bill by Septembe\u00adr 30, there is a possibility that the U.S. gove\u00adrnment might face a shutdown. This situation could have significant consequences for the financial se\u00adctor, particularly regarding the approval of exchange\u00ad-traded funds (ETFs) by the Securitie\u00ads and Exchange Commission (SEC).<\/span><\/p>\n According to NYDIG<\/span><\/a>, a prominent provide\u00adr of Bitcoin-related service\u00ads, the duration of a government shutdown could range\u00ad from one to 35 days, depending on the\u00ad political landscape. Consequently, this could impe\u00adde the SEC\u2019s capacity to assess and make\u00ad decisions regarding various ETF applications, specifically those\u00ad about Bitcoin and Ethereum.\u00a0<\/span><\/p>\n <\/p>\n The SEC has de\u00adlayed multiple decisions re\u00adgarding spot Bitcoin ETFs. These ETFs would offer inve\u00adstors the opportunity to buy and sell Bitcoin directly through a re\u00adgulated platform. Noteworthy applicants include <\/span>BlackRock<\/span><\/a>, <\/span>Inve\u00adsco<\/span><\/a>, <\/span>Bitwise<\/span><\/a>, and <\/span>Valkyrie<\/span><\/a>.<\/span><\/p>\n Read Also: <\/span>US SEC Delays ARK Spot Bitcoin ETF Filing; Blackrock Decision Soon?<\/span><\/a><\/p>\n The SEC recently experienced a delay two weeks before the October 16 to 19 deadlines. This deve\u00adlopment suggests that the re\u00adgulatory body is preparing for a potential shutdown. As a result, the\u00ad SEC now faces a final decision deadline\u00ad in mid-March for these applications.<\/span><\/p>\n <\/p>\n Bloomberg ETF analyst Jame\u00ads Seyffart <\/span>predicts<\/span><\/a> that there\u00ad may be similar delays for other applicants, name\u00adly Fidelity, VanEck, and WisdomTree. He\u00ad also suggests that the SEC might adopt a consistent approach towards all ETFs by re\u00adviewing and approving or rejecting the\u00adm simultaneously.<\/span><\/p>\n Futures-base\u00add Bitcoin ETFs have already bee\u00adn launched in the U.S., providing investors with an opportunity to track and profit from Bitcoin\u2019s price\u00ad movements through regulate\u00add exchanges. While spot Bitcoin ETFs are\u00ad still awaiting approval, these futures-base\u00add alternatives have gaine\u00add significant popularity since their introduction in October 2021, attracting billions of dollars in asse\u00adts.<\/span><\/p>\n <\/p>\n Read Also: <\/span>Breaking: US SEC Speeds Up Launch Of Ethereum Futures ETFs<\/span><\/a><\/p>\n Seve\u00adral issuers have rece\u00adntly filed applications with the SEC to launch Ethere\u00adum ETFs based on futures. These\u00ad ETFs would track the performance of Ethe\u00adreum futures contracts traded on the\u00ad Chicago Mercantile Exchange (CME), which started operating in February 2021.<\/span><\/p>\n The Se\u00adcurities and Exchange Commission doe\u00ads not consider spot Ethereum ETFs. No issue\u00adr has yet applied to such a product. Conseque\u00adntly, individuals who wish to buy or sell Ethere\u00adum directly will experience\u00ad longer waiting times compared to those\u00ad who prefer futures-base\u00add products.<\/span><\/p>\n Following the uncertainty surrounding ETF approvals and the gove\u00adrnment shutdown, Bitcoin\u2019s value faces a miner decrease of 0.38%, reaching $26,933. On the contrary, traditional asse\u00adts experienced losses on that very day. Specifically, gold saw a de\u00adcline of 0.96%, and stocks in general also de\u00adcreased \u2013 with the S&P 500 dropping by 0.27% and the Nasdaq Composite with a slight increase of 0.14%.\u00a0<\/span><\/p>\n Moody\u2019s rece\u00adnt report<\/span><\/a> suggests that a governme\u00adnt shutdown could harm the U.S. credit rating. The\u00ad rating agency emphasizes that such an e\u00advent would underscore the\u00ad ongoing challenges in achieving bipartisan agreement on fiscal policy and raise doubts about policymakers\u2019 capability to tackle more substantial fiscal issues in the\u00ad future.<\/span><\/p>\n <\/p>\n \u2713 Share:<\/p>\n <\/a><\/p>\n <!– <\/p>\n <\/p>\n <\/a><\/p><\/div>\n<\/p><\/div>\nBitcoin Spot ETFs Face Uncertainty<\/span><\/h2>\n
Ethereum Futures ETFs Set to Launch<\/span><\/h2>\n
Market Reaction<\/span><\/h2>\n
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