SEC Halts Crypto ETF Reviews Amid Government Shutdown
- The U.S. SEC has paused decisions on over 90 ETF applications due to the government shutdown.
- Analysts expected approvals for Solana-focused ETFs in early October, now delayed.
- Proposals include funds based on Cardano, Litecoin, and Dogecoin.
- The SEC’s contingency operations plan limits its activities during the budget impasse.
- Solana’s market cap exceeds $118 billion, with recent trading above $222.
The ongoing U.S. government shutdown has stalled the SEC’s review of numerous crypto ETF applications, affecting anticipated approvals for several altcoins like Solana and others. This comes amid a broader upswing in crypto prices, with Solana seeing notable gains despite the delay in regulatory decisions.
Investors must now wait as the SEC halts non-emergency functions, including ETF reviews, until further notice due to limited personnel availability caused by the budget deadlock in Congress. (Source)
