Entity: SEC Expected to 'Bulk Approve' Shitcoin ETFs After Government Shutdown

BlockBeats News, November 11th, Swiss crypto bank group Sygnum stated that despite a pullback in October, the "strong demand catalyst" and institutional participation are still at historical highs, with an increasing number of ETF applications signaling further institutional demand. Currently, there are at least 16 crypto ETF applications awaiting approval, which have been delayed due to the 40-day U.S. government shutdown.

Crypto Staking ETFs may become the next fundamental catalyst to spark institutional cryptocurrency demand. Over 80% of surveyed institutions are interested in crypto ETFs beyond Bitcoin and Ethereum, with 70% of institutions explicitly stating that they would start investing or increase their allocation if these ETFs offer staking rewards. Staking involves locking up tokens in a proof-of-stake blockchain network to maintain network security and earn passive income.

Sygnum believes that investors are eagerly awaiting the end of the government shutdown, which could prompt the SEC to "batch approve" altcoin ETFs, thus catalyzing a "new wave of institutional fund inflows."