The U.S. Securities and Trade Fee (SEC) has instructed issuers of the proposed spot exchange-traded funds (ETFs) for XRP, Solana, Cardano, Litecoin, and Dogecoin to withdraw their pending Kind 19b-4 filings.
The movement got here little over per week after the regulator’s September 18 approval of latest generic itemizing requirements that streamlined the method of launching crypto-backed ETFs within the US, because the registration course of not requires these types.
SEC’s New ETF Itemizing Normal No Longer Requires Issuers to Submit 19b-4 Filings, Dashing up Approval Timelines
Beneath the brand new framework, launched by the U.S. Securities and Trade Fee’s (SEC) Crypto Process Drive to cut back regulatory hurdles, U.S. exchanges corresponding to Nasdaq, Cboe BZX, and NYSE Arca can listing crypto ETFs with out the necessity for particular person 19b-4 filings, offered the merchandise meet the predefined standards.
The outdated regime mandated that every software search two separate approvals from the securities watchdog: a 19b-4 submitting from the change the place the ETF can be listed, and the opposite, an S-1 kind from the asset supervisor issuing the fund. The twin-approval course of usually took as much as 240 days to be accomplished, however with the brand new generic requirements in place, this timeline has been diminished to between 60 and 75 days.
ETF issuers can now instantly advance their filings with S-1 registration statements, the ultimate step earlier than an exchange-traded product begins buying and selling. 19b-4 dismissal for the crypto ETFs awaiting choice deadlines is anticipated this week. The brand new guidelines are designed to supply a secure platform for crypto product releases whereas making innovation exemptions to foster improvement for on-chain capital markets.
The regulatory shift comes because the SEC prepares for a joint rulemaking with the Commodity Futures Buying and selling Fee (CFTC) to synchronize crypto laws throughout the monetary market. Each businesses are set to conduct a roundtable assembly targeted on regulatory coordination for digital belongings as a part of the “Venture Crypto” initiative.
SEC Chairman Paul Atkins beforehand emphasised the significance of building secure frameworks for crypto product launches, which coincided with the transition from case-by-case filings to standardized itemizing necessities for crypto ETFs.
SEC Set to Make Last Resolution on 16 Crypto ETFs in October
No less than 16 crypto ETF proposals from main issuers: Grayscale, Bitwise, VanEck, WisdomTree, CoinShares, Canary Capital, and 21Shares, masking XRP, SOL, ADA, LTC, and DOGE, have approval deadlines all through October.
The primary merchandise up for a call are the Canary Litecoin ETF and the Grayscale Litecoin Belief ETF on Wednesday, October 2, 2025. This might be adopted by a wave of spot Solana ETFs between October 10 and 16, then a call on the Grayscale Dogecoin Belief on October 18, the Grayscale Cardano Belief ETF on October 23, and spot XRP ETFs from October 18 to 24.
The SEC has already put its new ETF-listing framework to the take a look at. On September 18, Grayscale’s Digital Massive Cap Fund (GDLC) – a multi-asset ETF offering traders with publicity to Bitcoin, Ether, XRP, Solana, and Cardano – turned the primary exchange-listed product to be launched underneath the system.
The approval of GDLC, which manages over $915 million in belongings underneath administration (AUM), marked a turning level for multi-asset crypto funding merchandise in america. Tuttle Capital Administration has filed an S-1 registration for its “Earnings Blast” fund providing publicity to BONK, LTC, and SUI.
In line with varied studies, 92 crypto ETF purposes at the moment are pending SEC approval, with their deadlines falling between October 2025 and April 2026. Market consultants famous that the brand new itemizing requirements make the timeline much less depending on formal deadlines, because the regulator can approve S-1 filings whether it is satisfied the merchandise meet the eligibility standards.
