Bitcoin ETF Approvals Stalled by U.S. Government Shutdown; Senate Eyes Responsible Financial Innovation Act

The U.S. government shutdown entered its ninth day, leaving the federal budget unresolved and placing cryptocurrency policy initiatives in an uncertain posture; the Senate continues to convene on budget and digital-asset matters while the House remains in recess.

Two informed sources say the Senate Banking Committee remains intent on advancing cryptocurrency market structure proposals and may proceed with deliberation hearings during the shutdown, with leadership aiming to markup the Responsible Financial Innovation Act by month-end despite reduced agency support.

Per the SEC shutdown operations plan, the SEC will not review registration statements or issue effectiveness notices, making approval of new physically-backed cryptocurrency ETFs unlikely before agencies resume full operations; issuers report confidence that pending filings can be approved swiftly once normal review processes restart.