Senate Dems Roundtable and Crypto ETF Delays Amid Shutdown
As the US government shutdown enters its fourth week, the Senate scheduled its 11th vote to restore federal operations. Senate Democrats led by Kirsten Gillibrand convened a crypto roundtable with executives from Coinbase, Kraken, Circle and Ripple. They aimed to discuss the stalled Market Structure Bill—the Senate counterpart to the CLARITY Act and a focal point for DeFi regulation. The shutdown has frozen SEC activity and delayed critical crypto ETF approvals for over 16 filings, including funds for Litecoin, HBAR, Solana, XRP and Dogecoin. Another 21 applications from issuers such as Bitwise, Fidelity, Franklin Templeton, CoinShares, Grayscale and VanEck also await review. Several issuers have updated S-1 filings to include staking provisions for Solana and Ethereum tokens. Traders should monitor the Market Structure Bill’s progress and the timing of crypto ETF approvals, as both will shape market liquidity and stability.
Bearish
The protracted US government shutdown and repeated failed votes have frozen SEC operations, delaying the approval of over 16 crypto ETF applications. These postponements dampen short-term optimism for tokens like LTC, HBAR, SOL, XRP, DOGE and ETH, as ETFs are key for institutional inflows and liquidity. While the Senate’s crypto roundtable signals a push toward clear regulation, material progress depends on both resuming federal operations and passing the Market Structure Bill. If the shutdown ends and a regulatory framework is established, ETF approvals could resume, offering a bullish catalyst long term. However, persistent delays maintain bearish pressure on crypto assets until clarity on ETF timelines emerges.