America’s federal government shutdown continues into third week, affecting 16 ETFs awaiting approval. Shutdown began on Oct. 1 due to funding disagreement. SEC, responsible for approving ETF applications, operating with essential staff only. No clear timeline for end to shutdown as Republicans and Democrats remain in stalemate over demands.

Shutdown persists as Republicans seek spending cuts to reduce national debt of $37.8 trillion, while Democrats oppose healthcare cuts and want extension of tax credits. Senate not scheduled to hold votes until Tuesday, House out of session. Shutdown can only end if Congress passes legislation to fund government.

Once bills passed by Congress, President Trump can sign into law to end shutdown. Republicans control both chambers but lack votes in Senate without Democratic support. Shutdown is 11th in US history, first since 35-day shutdown in 2018-2019. Altcoin season expected to begin once government shutdown ends, with mass approvals of crypto ETFs predicted. Analysts foresee potential for new altcoin season if proposed ETFs are approved due to less risk exposure.

Read more at Cointelegraph: Crypto Markets Wait as US Government Shutdown Drags On