As investors digest the news that the U.S. Senate has reached a long-awaited agreement that could soon end the 40-day government shutdown, institutional demand for digital assets has seen a significant increase.
On Sunday, the U.S. Senate advanced a procedural vote to end the government shutdown, with a final vote expected on Monday following the conclusion of debate.
Following the report, the cryptocurrency market experienced a rebound. According to CoinMarketCap data, the Starknet (STRK) token surged over 43%, becoming the biggest winner of the day, followed by the Trump-backed World Liberty Financial (WLFI) token, which rose 28% in the past 24 hours.
Nicolai Sondergaard, a research analyst at the crypto intelligence platform Nansen, told Cointelegraph that the potential end of the government shutdown could reduce "financial uncertainty" for global investors and drive a recovery in the cryptocurrency market.
Sondergaard added that once the government resumes operations, investors can "price based on real fundamentals rather than speculation," as key federal agency releases were canceled due to the shutdown.
After the news of the potential end of the 40-day government shutdown, institutional investors restarted their accumulation of Ethereum (ETH) based on growing average spot order data.
According to data from the crypto intelligence platform CryptoQuant, if the ETH price can maintain above the $3,000 to $3,400 range, Ethereum may be entering a "low volatility accumulation" phase.
However, according to a report shared with Cointelegraph by the derivatives trading division of Nomura Group's Laser Digital, the broader market recovery will ultimately depend on the upcoming inflows into Bitcoin (BTC) and ETH ETFs, which will determine whether this recovery will see "sustained institutional demand rather than just retail or short-term capital flows."
In the broader cryptocurrency space, ETF analyst Nate Geraci believes that the end of the shutdown is a positive development that will open the ETF floodgates.
"End of government shutdown = spot cryptocurrency ETF floodgates open," Geraci wrote in a post on X on Monday, adding that this could also lead to the launch of the first spot Ripple (XRP) ETF issued under the Securities Act of 1933.
This would make the 21Shares fund the first XRP exchange-traded product, as well as the fourth altcoin ETP issued under the 1933 Act. Spot BTC and ETH ETFs have also been approved under the same framework but are listed under the Securities Exchange Act of 1934, which requires exchange oversight.
Currently, at least 16 cryptocurrency ETF applications are awaiting approval, delayed due to the U.S. government shutdown, which has now entered its 40th day.
Related: CFTC Acting Chair Caroline Pham confirms push for approval of U.S. leveraged cryptocurrency trading
Original article: “End of U.S. Government Shutdown Triggers Institutional Buying, Altcoin ETF ‘Floodgates’ Expected to Open”
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