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The New York Digital Investment Group (NYDIG) has predicted that the ongoing US government shutdown could extend from a mere day to a more protracted 35-day duration.

This looming shutdown has raised concerns about its potential ramifications on the decisions of the U.S. Securities and Exchange Commission (SEC) regarding a range of Exchange-Traded Funds (ETFs).

The SEC’s impending decision on bitcoin spot ETFs is of particular interest, which must be made before January 10, 2024.

This timeline has added pressure to the strained situation, given the potential delay caused by the government shutdown.

The SEC could opt for a consistent approach, rendering decisions on all ETFs simultaneously, whether approval or rejection.

Ethereum Futures ETF Set to Launch

Amidst these developments, the launch of an Ethereum futures ETF is rapidly approaching.

Remarkably, no spot Ethereum products are under consideration by the SEC.

This marks a significant difference from the bitcoin market, where both spot and futures products have been introduced.

The pending Ethereum futures ETF is expected to provide investors with a new and accessible avenue for exposure to the second-largest cryptocurrency by market capitalisation.

While the exact launch date remains undisclosed, this ETF’s anticipation underscores the growing demand for diverse crypto investment opportunities within the traditional financial landscape.

The crypto market remains in flux as the US government shutdown looms and the SEC grapples with critical ETF decisions.

Investors and industry stakeholders keep a keen eye on these developments, which can shape the future of cryptocurrency adoption and investment strategies within the United States.

Amid these uncertainties, it’s evident that regulatory agencies like the SEC continue to grapple with the challenges posed by the rapidly evolving cryptocurrency ecosystem.

The decisions made in the coming months will have lasting implications for the ETF market and the broader crypto industry as it seeks to find its place within the traditional financial framework.