Skip to content
- SEC aims to reduce ETF approval delays with new rule.
- Solana expected to lead first wave of approved crypto ETFs.
- New guidance signals structured crypto oversight under SEC leadership.
The U.S. Securities and Exchange Commission is finalizing a new rule to accelerate crypto ETF approvals across all exchanges. Under a unified regulatory framework, this shift could drastically cut approval timelines from 240 days to around 75 days.
Each ETF would require an issuer to go through the slow 19b-4 exemption process, which would delay issuance and, at times, leave issuers uncertain about their fate. Exchanges can now submit products to exchanges without submitting separate forms per application, since a standard structure is in the development phase.
Produced on July 2, a 12-page guidance document published by the SEC outlined the details of how crypto ETFs should be approved. It provides simplified, plain-English disclosures of expectations on custody procedures, product risks, and structural characteristics.
The document represents the initial step of a broader regulatory transformation targeted at making crypto product listing in the U.S. more organized. The second phase is likely in early fall and will carry with it the complete outlining system of future crypto ETFs.
Upon its completion, the new rule will enable issuers to skip the need to file individual exemptions on a per-product basis regarding crypto-connected products. Swaps will need to file applications under this framework soon after the SEC publishes the final language.
Solana-Based ETFs Poised to Lead Under New Regulatory Structure
At this point, Solana is already expected to be the most approved coin after the system goes live later this year. Its ranking as the sixth-largest crypto by market value has drawn interest from both retail and institutional investors.
Although no formal Solana ETFs are yet authorized, certain companies are producing other gadgets to circumvent delays. REX Financial, together with Osprey Funds, listed the REX-Osprey Sol + Staking ETF (SSK.Z) on July 1.
This product contains an investment in Solana and an offshore fund, which does not bear direct regulatory supervision by the SEC of spot positions. It will enable investors to achieve Solana exposure and staking rewards without being subjected to the spot ETF approval requirements.
Regulatory developments at the SEC indicate a more significant shift in the agency’s approach to crypto regulation and fund oversight. The creation of new internal teams, the minimization of enforcement actions, and the publication of formal guidance mean the approach is likely to be more orderly in the future.
Solana is expected to lead the pack as the SEC prepares a potential shift in crypto ETF regulations. Key launches are still being held over until the fall, when definitive direction is expected to open up quicker and more certain listings.
Also Read: Vitalik Buterin Unveils Bold Plan to Make Ethereum Simple for Everyone
