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The government shutdown in the US has created uncertainty in various ETF applications, including Crypto ETF‘s. The SEC is placing many of its employees on unpaid leave. The SEC is now only dealing with urgent matters; therefore, the announcement of some decisions may be delayed in the coming days. Although the new listing standards will speed up the process, limited staffing will still slow down ETF approvals.
Government Shutdown Slows Applications
The government shutdown is slowing down the SEC’s routine operations. Crypto ETF and other ETF applications cannot be processed except in emergencies due to the agency’s limited staff. Experts indicate that the announcement of new applications is likely to be delayed during this process.
SEC’s New Crypto ETF Standards Deemed Insufficient
The SEC recently approved general listing standards that will apply to Crypto ETF and other investment funds. These new regulations aim to make the application process much faster and more efficient in theory. The agency can now handle applications collectively based on specific criteria rather than evaluating each one individually.
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However, the government shutdown is limiting the impact of these improvements. Since most of the SEC’s staff are on unpaid leave, the approval process has effectively slowed down. The new standards, which were expected to speed things up under normal circumstances, are not fully functioning under the current conditions. According to experts, the SEC will not be able to take any significant steps regarding crypto ETF applications until it returns to full capacity.
Time for Investors to Be Patient
Those wishing to invest in crypto ETFs and other ETF products will have to postpone their decisions due to the SEC’s limited staff. The agency will only respond to urgent email and phone requests. Therefore, some approvals may not be announced in the short term.