SEC Silence Derails Cardano ETF Hopes as US Government Shutdown Persists

As the U.S. government shutdown continues into October, the Securities and Exchange Commission (SEC) remains silent on pending ETF applications, leaving investors in limbo and fueling uncertainty across the crypto market. The expected decisions this week, which included Grayscale’s Cardano ETF and three separate XRP funds, have been delayed as the SEC operates at reduced capacity due to the government shutdown. 2023 has already seen a number of regulatory milestones in the US, but the lack of clear action from the SEC is causing concern for investors.