US President Donald Trump officially ended the longest government shutdown in the country's history by signing the funding bill passed by the House of Representatives on Wednesday. This 43-day process forced federal agencies to operate at nearly half capacity, directly impacting the crypto ecosystem as well as financial markets.
The bill, approved by the Senate earlier this week, took effect with Trump's signature after quickly passing the House. The new funding grants the federal government authority to operate until January 30, 2026, meaning both Democrats and Republicans have a window of several months for more comprehensive budget negotiations.
One of the key points of the shutdown was healthcare spending. Democrats wanted more funding for this area, while Republicans argued that regulations should be addressed after the bill was signed. Trump stated his openness to compromise on this issue after the signing, saying, "I'm willing to work with both parties. We can do better on healthcare."
What's changing on the crypto side?
The government reopening means that crucial institutions, especially in the crypto ecosystem, will return to full capacity. The SEC (Securities and Exchange Commission) and the CFTC (Commodity Futures Trading Commission) were operating with limited staff throughout the shutdown. This had caused critical crypto applications to remain on hold. Here's what's expected now:
- Decision-making processes for spot crypto ETF applications will accelerate again.
- The CFTC will proceed with the November 19th confirmation hearing of Mike Selig, Trump's favorite for the agency, as planned.
- The Treasury Department will continue to review the stablecoin-focused GENIUS Act feedback, which includes feedback collected between early October and early November.
All of these developments are clearly critical for the crypto markets in the medium term. Both the progress of the ETF filings and the clarification of the stablecoin regulatory framework will determine the overall direction of the sector heading into 2026.
Initial market reaction is subdued
The end of previous government shutdowns throughout history has generated strong gains in crypto assets, particularly Bitcoin. However, this time the picture looks different. The Bitcoin price showed minimal movement following the news, while the broader market remained flat.
According to analysts, there are two reasons for this:
- While the impact of this shutdown on crypto-related institutions was well-known, markets had largely priced it in.
- Global macro uncertainty remains high, and investor risk appetite remains weak.
Nevertheless, the government's reopening represents a significant "unblocking" for the crypto market. Markets may see clearer movement in the coming weeks, particularly as the ETF application update process becomes active again.
