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#SECHaltsCryptoETFReviewsAmidFundingLapse The SEC freezes cryptocurrency ETF revisions after a U.S. budget lapse. The U.S. Securities and Exchange Commission (SEC) has temporarily suspended the review and approval process for new cryptocurrency-based exchange-traded fund (ETF) applications. The measure takes effect following the start of the new U.S. fiscal year without Congress approving the federal budget on time, which led to a funding lapse and the furloughing of non-essential staff. Scope of the measure: What is halted and what continues? Implementing the contingency plan due to lack of budget allocation has changed the agency’s operating dynamics: New ETF applications on pause: Ongoing filings under Forms 19b-4 and S-1/N-1A have been frozen. The SEC will not issue effectiveness declarations or comment letters for as long as the shutdown remains in place. More than 90 applications affected: More than ninety pending financial products awaiting approval—including proposals covering various digital assets and composite strategies—have had their review schedules paused. Existing ETFs remain operational: Previously approved and exchange-traded spot Bitcoin and Ethereum funds (such as BlackRock’s IBIT or Fidelity’s FBTC) continue trading normally in secondary markets. Next steps to watch The SEC’s resumption of analysis depends on political resolution in the U.S. Congress. As soon as a continuing resolution (Continuing Resolution) or the final budget is approved, the SEC will restart its usual operations and process the accumulated applications in the order they were filed. $BTC $ETH $ZEC