The SEC's investigation into encryption funds has been postponed due to the government shutdown, and subpoenas may be issued after it restarts.

[The SEC's investigation into the Digital Asset Treasury strategy for publicly traded companies has been temporarily halted due to the U.S. government shutdown entering its second month. Several former SEC attorneys stated that once the government reopens, the investigation will almost certainly resume, noting that if the preliminary investigation escalates to a formal investigation, regulators may issue subpoenas within one to two months.] Legal experts believe that although the Trump administration is seen as more favorable to the encryption industry, it would help establish a healthy regulatory framework for the digital asset market if the SEC could clarify potential violations.