Despite the US Government Shutdown, the ETF Wave Continues! Numerous ETF Applications Submitted, Including Bitcoin and Solana (SOL)

The two-week government shutdown in the US continues to impact cryptocurrencies. Altcoin ETFs like XRP, Solana (SOL), and Litecoin (LTC), which were expected to be approved back-to-back, have faced delays due to the government shutdown. Like many government agencies in the US, SEC employees have been placed on unpaid leave and continue to work with a limited staff. The SEC's Trading and Markets Regulations have delayed the approval date for altcoin ETFs due to a provision in the SEC's Trading and Markets Regulations that states, “During a government shutdown, the SEC will not be able to review pending applications, evaluate new or pending applications or registrations, issue interpretative recommendations, or issue no-action letters.” ETF approval decisions are not expected to be announced during the shutdown. Related News: How Will the US Government Shutdown Affect XRP, Solana (SOL), Dogecoin (DOGE), and Other Altcoin ETFs? Here's the Answer... However, the ETF market continues to be bustling with activity. Despite the ongoing government shutdown in the US, at least five new ETF applications have been filed with the SEC. Large asset managers are stepping up competition by launching a variety of products, including leveraged ETFs, staking ETFs, and yield strategy ETFs. At this point, VanEck filed S-1 documents with the SEC for its Lido Staking Ethereum (ETH) ETF. 21Shares filed for the HYPE 2x leveraged ETF. ARK Invest filed for three additional Bitcoin (BTC)-related ETFs. Volatility Shares filed for new 3x and 5x leveraged ETFs tied to major US stocks and virtual assets, while VanEck recently submitted an amendment for a Solana (SOL) staking ETF charging a 0.3% fee rate. Bloomberg ETF analyst Eric Balchunas commented on 21Shares’ HYPE 2x leveraged ETF: “This product is a very niche market, but it could reach multi-billion dollar scale in 3-4 years.” “Once the government shutdown ends, there will be a wave of approvals for altcoin ETFs,” commented Nate Geraci, president of ETF Store. *This is not investment advice. Continue Reading: Despite the US Government Shutdown, the ETF Wave Continues! Numerous ETF Applications Submitted, Including Bitcoin and Solana (SOL)