On September 30th, NYDIG stated that the duration of the US government shutdown is expected to last between 1-5 days, with a maximum of 16-35 days. If the government shuts down, two key areas may face significant consequences, directly affecting the cryptocurrency industry's key events. These two areas are law enforcement (mainly the Department of Justice) and financial regulatory agencies (mainly the SEC).
Due to the expected shutdown, the SEC has already begun to postpone decisions on most spot Bitcoin ETFs, including those with reply deadlines in November. Ultimately, the SEC will need to make a decision on the entire spot Bitcoin industry by January 10, 2024. NYDIG believes that the SEC may adopt a consistent approach to all ETFs during this process to avoid bias, while approving or rejecting all ETFs.
The situation is slightly different for Ethereum ETFs based on futures and those based on spot prices. An Ethereum futures ETF seems to be about to launch, but the SEC has quickly postponed the decision time for a spot price ETF.
