Prominent analyst Eric Balchunas claims that the U.S. Securities and Exchange Commission's decisions on a slew of cryptocurrency-linked exchange-traded funds (ETFs) are effectively "on ice" amid the ongoing U.S. government shutdown.
"From what I hear everything is on ice... it's like a rain delay. Bad time, but what are you gonna do..." Balchunas wrote on X.
As reported by U.Today, issuers were recently asked to withdraw their spot altcoin ETF filings en masse after the new game-changing generic listing standard came into effect earlier this month.
Tons of uncertainty
This October was widely expected to be the month of crypto ETFs flooding the market. However, this might not be the case if the government remains shut down.
In fact, the SEC is not even responding to press inquiries at the moment.
Moreover, the oft-repeated approval deadlines are no longer relevant due to the new listing standard.
Dan Burgin
Vladislav Sopov
U.Today Editorial Team