Huo Xing Finance reports, according to HOGE Wire, the U.S. federal fiscal year began on October 1, 2026, without a budget, causing the U.S. Securities and Exchange Commission (SEC) to enter a funding lapse. As a result, new crypto ETF reviews have been halted; registration statements cannot be declared effective, and comment letters are no longer issued. Existing listed products remain unaffected—BlackRock’s IBIT, Fidelity’s FBTC, and Grayscale-related products can still be traded, with subscriptions and redemptions continuing as normal. Crypto ETFs require both an exchange-submitted 19b-4 filing and an issuer-submitted S-1 or N-1A; both pathways are suspended during the funding lapse. On September 17, 2025, the SEC approved a generic…