- SEC adopts generic requirements, ending the necessity for particular person 19b-4 filings.
- Crypto ETF issuers will now give attention to S-1 evaluations, presumably rushing up the ETF launch timelines.
- Altcoin ETFs face a six-month futures buying and selling rule earlier than approval.
The US Securities and Change Fee (SEC) has taken a decisive step that might reshape the crypto ETF panorama.
The company has requested issuers of spot cryptocurrency ETFs, together with these tied to Litecoin, XRP, Solana, Cardano, and Dogecoin, to withdraw their pending 19b-4 filings.
🚨SCOOP: The @SECGov has requested issuers of $LTC, $XRP, $SOL, $ADA, and $DOGE ETFs to withdraw their 19b-4 filings following the approval of the generic itemizing requirements, which exchange the necessity for these filings. Am informed withdrawals might begin occurring as quickly as this week.
— Eleanor Terrett (@EleanorTerrett) September 29, 2025
Notably, the directive follows the Fee’s latest adoption of generic itemizing requirements, which take away the necessity for every ETF to endure a separate regulatory submitting course of.
Generic requirements exchange previous guidelines
The shift to generic itemizing requirements, approved on September 17, 2025, permits exchanges to listing commodity-based exchange-traded merchandise, together with crypto ETFs, with out submitting particular person 19b-4 kinds.
The change eliminates a course of that usually slowed approvals and created uncertainty for fund managers and traders.
As a substitute, the SEC would require issuers to give attention to their S-1 registration statements, which stay a key a part of the approval course of.
By reducing out the redundant filings, the Fee hopes to streamline procedures and produce crypto ETFs consistent with the frameworks already in place for conventional commodities like gold and oil.
What this implies for the possible crypto ETF issuers
For issuers, the speedy impact is a extra easy path to market.
They not want to put together and look ahead to 19b-4 evaluations, which beforehand carried deadlines stretching so long as 240 days.
The brand new system permits exchanges to depend on predefined standards when itemizing ETFs, which means approvals might come a lot sooner, typically inside days as soon as S-1s are cleared.
This acceleration has prompted optimism out there, with analysts suggesting that a number of merchandise might transfer ahead virtually instantly.
On the similar time, issuers are actually in a race to guarantee their S-1 filings meet the SEC’s requirements, as pace and readiness will decide who’s first to market below the brand new framework.
Timelines and circumstances
The framework doesn’t imply each crypto asset can qualify immediately.
One of many key necessities is that futures tied to the asset should have traded for no less than six months on a CFTC-regulated trade.
This situation ensures adequate market maturity earlier than associated ETFs can launch.
For XRP, futures started buying and selling on Might 19, 2025, which means the earliest potential ETF approval below the brand new requirements could be November 19.
Different altcoins, together with Litecoin (LTC), Solana (SOL), Cardano (ADA), and Dogecoin (DOGE), will want to meet the identical futures buying and selling requirement earlier than qualifying.
This units clear benchmarks for when new ETFs tied to these belongings would possibly realistically debut.
Market affect and dangers
The SEC’s transfer is extensively considered as a milestone for the business.
By positioning crypto ETFs alongside established commodity-based merchandise, the company is providing issuers and traders a clearer and extra predictable path to market.
The change might enhance institutional demand for altcoin publicity, reinforcing the narrative of digital belongings shifting deeper into mainstream finance.
Nevertheless, uncertainties stay. Bloomberg analyst James Seyffart has warned that the looming US authorities shutdown might complicate the timing of approvals.
add within the potential for a authorities shut down and this will get wonk!
— James Seyffart (@JSeyff) September 29, 2025
Polymarket information presently suggests a excessive chance of a shutdown by October 1, a state of affairs that will disrupt the SEC’s skill to course of filings.
Even with out such disruptions, some analysts warning that the hype surrounding ETF approvals may lead to a short-term “sell-the-news” pullback as soon as merchandise go dwell.
