With the US Securities and Exchange Commission operating with a skeleton crew due to a government shutdown, crypto asset managers are seizing the moment. Grayscale Investments debuted its Solana Staking ETF (GSOL) on Wednesday, hot on the heels of similar product launches from Bitwise and Canary.
The government shutdown, now in its second month, has significantly limited the SEC’s ability to monitor and intervene in new financial products.
This has created a window of opportunity for the crypto industry to push ahead with its expansion into the mainstream financial world, launching complex products like staking-enabled ETFs while regulatory oversight is diminished.
