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U.S. Government Reopens, Clearing Path for Crypto ETF Decisions and CFTC Leadership Vote
- The longest US government shutdown in history officially ended after President Trump signed a stopgap funding bill valid until January 30, 2026.
- The reopening allows key financial regulators, notably the SEC and CFTC, to resume work on a backlog of spot crypto ETF applications and other regulatory tasks.
- The end of the shutdown did little to generate a price reaction in crypto markets, with Bitcoin trading mostly sideways around the $100K level.
The longest shutdown in US history is now officially over, lasting for 43 days. President Trump signed a stopgap funding bill that lifted the federal government shutdown and restored normal operations across agencies.
The bill, which cleared the Senate on Monday and passed the House of Representatives on Wednesday, was signed into law only hours after the House vote. Trump called it a victory over Democrats, stating that Republicans will “never give in to extortion”.
The bill will keep the government funded through January 30, giving Republicans and Democrats extra time to negotiate a wider budget package for the 2026 fiscal year.
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A Sign of Relief?
For crypto markets, the reopening mainly matters because it brings staff back to key financial regulators.
The Securities and Exchange Commission (SEC) can now resume work on a backlog of spot crypto exchange-traded fund (ETF) applications. For instance, Canary’s XRP ETF went live on Thursday with a bang, amassing over US$58 million (AU$88 million), far more trading volume than analysts expected.
Now that government agencies are back to work, we can expect more movement for the remaining crypto ETF applications, mainly XRP-related products, of which the DTCC has listed five on its pre-launch roster.
Meanwhile, the Commodity Futures Trading Commission (CFTC) is moving ahead with a November 19 confirmation hearing for Mike Selig, Trump’s nominee to lead the agency.
The US Treasury is also now in a position to continue reviewing public feedback on the stablecoin-focused GENIUS Act, gathered between early October and early November. The bill could shape future rules for dollar-pegged tokens and their issuers.
Despite the political resolution, crypto prices have shown little immediate reaction. Bitcoin has traded mostly sideways around the shutdown’s end, even though previous government reopenings have at times coincided with strong rallies in digital assets.
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Bitcoin is barely holding the US$100K (AU$153K) level, dropping below that level several times this week, as per CoinMarketCap data.
Author
José Oramas
José is a journalist and translator with a keen interest in blockchain and cryptocurrencies.
