{"id":66408,"date":"2023-09-28T10:42:32","date_gmt":"2023-09-28T14:42:32","guid":{"rendered":"https:\/\/ifintechworld.com\/uncategorized\/etfs-may-face-approval-delays-volatility-if-us-govt-shuts-down\/"},"modified":"2023-09-28T10:42:35","modified_gmt":"2023-09-28T14:42:35","slug":"etfs-may-face-approval-delays-volatility-if-us-govt-shuts-down","status":"publish","type":"post","link":"https:\/\/ifintechworld.com\/?p=66408","title":{"rendered":"ETFs may face approval delays, volatility if US govt shuts down"},"content":{"rendered":"
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\u00a9 Reuters. Representations of cryptocurrency Bitcoin are placed on a PC motherboard, in this illustration taken June 16, 2023. REUTERS\/Dado Ruvic\/Illustration<\/span>
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By Bansari Mayur Kamdar<\/p>\n

(Reuters) – Approvals on new exchange-traded funds, including bitcoin spot ETFs, could face delays if the U.S. government shuts down next month for the fourth time in a decade. <\/p>\n

Hundreds of thousands of federal workers, including nearly 90% of the Securities and Exchange Commission’s (SEC) 4,600 employees, will be furloughed without pay if Congress fails to provide funding for the fiscal year starting Oct. 1.<\/p>\n

The SEC Chair Gary Gensler recently warned in a media interview that the agency will operate with a “skeletal” staff during a shutdown.<\/p>\n

“I’m not sure if ETFs that have been filed for approval can move forward with the government shutdown,” said Todd Rosenbluth, head of research at VettaFi.<\/p>\n

“The SEC has to reject new ETFs and the absence of personnel could allow launches to occur.”<\/p>\n

For instance, the SEC has pushed back the decision on whether to approve applications for spot ETFs to mid-October, but that could potentially be delayed further should the shutdown continue for that long.<\/p>\n

“This would just delay yet another decision on the never ending spot Bitcoin decision,” said Todd Sohn, ETF and technical strategist at Strategas Securities.<\/p>\n

“I’d wager investor and issuer patience is already running thin with regards to that product, so a shutdown adds to the agitation.”<\/p>\n

Further, listed funds may face increased volatility, analysts warned. <\/p>\n

“ETFs are just pass through vehicles … impact on the underlying markets will obviously impact ETFs,” said Hector\u00a0McNeil, co-CEO and founder of HANetf. <\/p>\n

“People will also probably pause if they’re about to launch (new ETFs) and wait for steady waters.” <\/p>\n<\/div>\n

Read the full article here<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"

\u00a9 Reuters. Representations of cryptocurrency Bitcoin are placed on a PC motherboard, in this illustration taken June 16, 2023. REUTERS\/Dado Ruvic\/Illustration By Bansari Mayur Kamdar (Reuters) – Approvals on new exchange-traded funds, including bitcoin spot ETFs, could face delays if the U.S. government shuts down next month for the fourth time in a decade. Hundreds […]<\/p>\n","protected":false},"author":1,"featured_media":3065,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"video","meta":{"footnotes":""},"categories":[1],"tags":[83],"class_list":["post-66408","post","type-post","status-publish","format-video","has-post-thumbnail","hentry","category-uncategorized","tag-featured","post_format-post-format-video"],"yoast_head":"\nETFs may face approval delays, volatility if US govt shuts down | iFintechWorld<\/title>\n<meta name=\"description\" content=\"\u00a9 Reuters. 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