Another great summary from the best crypto journalist on social media.
The ETF approval I believe comes from the SEC’s Division of Corporation Finance. Not all the SEC’s funding comes from congressional appropriations and core activities will continue. You would expect the shut down to impact on EFT approvals but late October approvals may not be off the table yet depending on the length of the shut down.
After all, crypto never fails to surprise.
Adding some context here for those asking if this applies to all ETFs, including the spots.
The short answer is no. The Teucrium $XRP ETF holds Treasuries, cash, and swap receivables, so it was registered under the 40 Act, meaning the @SECGov didn’t need to actively approve it, just let it go effective.
The SEC also generally lets futures ETFs go effective once the statutory period passes, rather than requiring a new, active approval each time.
Spot ETFs, though, are registered under the 33 Act as commodity trusts and DO require explicit SEC approval before launching. So any new spot crypto ETFs ($LTC, $SOL, $XRP) won’t begin trading until the SEC can declare the S‑1s effective, likely after the government shutdown is over and the agency has returned to operating at full capacity.
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