Cardano ETF Approval at Risk Amid U.S. Government Shutdown
The long-anticipated Cardano (ADA, $0.7830) ETF could be delayed as the SEC operates on minimal staff during the ongoing U.S. government shutdown. Crypto ETF reviews are effectively paused, potentially pushing decisions into 2026.
Although the SEC recently fast-tracked altcoin ETF approvals through “generic listing standards,” the shutdown has stalled filings, including ADA’s. Polymarket traders currently assign a 90% probability to year-end approval, but a 36% chance of a month-long shutdown makes delays more likely than the market suggests.
Under the SEC’s contingency plan, only about 390 of 4,200 employees remain on duty, focusing solely on emergencies and market monitoring. ETF applications can still be submitted via EDGAR, but no staff are available to review or process them.
Even if operations resume in late October, the agency would have roughly eight working weeks before the holiday slowdown, leaving a tight window to clear a growing backlog that includes ADA and 89 other crypto ETF filings.
While the Cardano ETF remains a high-priority application, the ongoing shutdown introduces significant uncertainty over the timeline for approval.
