US government shutdown delays crypto-ETF approval: industry awaits massive product launch

10.08.2025

Thedelay in the approval of cryptocurrency exchange-traded funds (ETFs) in the U.S. is due to the ongoing federal government shutdown, which has heightened tensions among market participants and investors. According to the U.S. Securities and Exchange Commission (SEC), applications to launch new crypto-ETFs have been put on hold as the regulator is constrained by a lack of funding.In August 2025, a significant number of applications to launch bitcoin and ether ETFs were pending approval. Analysts estimated that more than 12 new applications were pending, including proposals from leading management companies. It was expected that the opening of "floatgate" for ETFs could attract billions of dollars of additional investment into the industry, increasing liquidity and institutional participation in the cryptocurrency market.Experts note that the delay in ETF approval is having a negative impact on investor sentiment and could slow the adoption of cryptocurrency instruments in traditional financial portfolios. Industry representatives express concern that further delaying the process will lead to capital outflows and reduce the competitiveness of the U.S. market compared to other jurisdictions where such instruments are already available.It is expected that after the government reopens, the SEC will resume reviewing applications, potentially opening up new opportunities for market growth and attracting institutional investors.