SEC Streamlines Crypto ETF Pathway, Requests Withdrawal of Individual Altcoin Filings
SEC requests withdrawal of altcoin ETF filings after approving generic listing standards, streamlining crypto ETF launches.
The U.S. Securities and Exchange Commission (SEC) has directed issuers of proposed altcoin exchange-traded funds (ETFs) to withdraw their pending applications, marking a significant procedural shift in how digital asset products will be brought to market. The move comes after the regulator approved new “generic listing standards” earlier this month, eliminating the need for separate 19b-4 filings for individual crypto ETFs.
Issuers seeking to launch funds tied to XRP, Solana (SOL), Litecoin (LTC), Dogecoin (DOGE), and Cardano (ADA) had already submitted their paperwork. But under the new regime, these applications are no longer required, since exchanges can now list crypto ETFs directly as long as they comply with the updated standards.
Journalist Eleanor Terrett, who first reported the withdrawals on X, noted that issuers could begin pulling their filings this week, even as deadlines for SEC decisions were fast approaching. Previously, the agency could take up to 240 days to rule on such applications; the new framework shortens that timeline to approximately 75 days.
Market analysts argue the change could accelerate the adoption of crypto ETFs. “This could blow the market open,” Bitwise CIO Matt Hougan predicted earlier this year, pointing to the pent-up demand for diversified crypto investment products.
The SEC’s overhaul arrives just as the agency nears final deadlines for certain spot products. Canary Capital’s application for a Litecoin ETF was scheduled for resolution this week, with subsequent rulings expected on filings for SOL, DOGE, XRP, ADA, and HBAR. Instead, those issuers will now fall under the umbrella of the generic listing rules.
The updated standards have already cleared the way for new multi-asset funds. On September 19, regulators approved Grayscale’s CoinDesk Crypto 5 ETF (GDLC), the first U.S. ETF designed to track a basket of the top five cryptocurrencies by market capitalization: Bitcoin, Ethereum, XRP, Solana, and Cardano.
For investors, the shift may reduce uncertainty and speed up product launches, while providing issuers with a clearer pathway to market. For the SEC, it represents an attempt to balance regulatory oversight with market efficiency after years of criticism for its slow and uneven approach to digital assets.
