SEC Clears Path for Faster ETF Approvals
In a dramatic shift for the U.S. crypto market, the Securities and Exchange Commission (SEC) has instructed issuers of exchange-traded funds tied to XRP, Solana (SOL), Cardano (ADA), Dogecoin (DOGE), and Litecoin (LTC) to withdraw their pending 19b-4 filings.
The move follows the agency’s approval of generic listing standards, which eliminate the need for cumbersome case-by-case reviews under Section 19(b) of the Securities Exchange Act. According to journalist Eleanor Terrett, the change means exchanges can now rely on predetermined requirements and skip lengthy reviews that previously stretched up to 240 days.
🚨SCOOP: The @SECGov has asked issuers of $LTC, $XRP, $SOL, $ADA, and $DOGE ETFs to withdraw their 19b-4 filings following the approval of the generic listing standards, which replace the need for those filings. Am told withdrawals could start happening as soon as this week.
— Eleanor Terrett (@EleanorTerrett) September 29, 2025
🚨SCOOP: The @SECGov has asked issuers of $LTC, $XRP, $SOL, $ADA, and $DOGE ETFs to withdraw their 19b-4 filings following the approval of the generic listing standards, which replace the need for those filings. Am told withdrawals could start happening as soon as this week.
— Eleanor Terrett (@EleanorTerrett) September 29, 2025
A New Era of Speed and Efficiency
Under the updated framework, commodity-based ETFs—including those linked to cryptocurrencies—can move directly to listing so long as they meet eligibility criteria. One key requirement is that the underlying assets, such as futures, must be under the jurisdiction of the Commodity Futures Trading Commission (CFTC). Analysts say the change effectively minimizes delays and will spur a wave of new spot crypto ETFs.
Issuers like Fidelity and Franklin Templeton are already modifying their applications to fit the new standards. Withdrawal notices for older 19b-4 submissions are expected within days.
Political Risk Still Looms
Despite the breakthrough, questions remain over timing. Bloomberg analyst James Seyffart warned that the looming U.S. government shutdown could complicate approvals. “The rule’s effective date falls within the window of time during which the SEC may begin accepting applications… raising questions about staffing and decision-making capacity,” Seyffart noted.
His colleague Eric Balchunas added that while approvals may be accelerated, actual launch dates still hinge on the SEC’s Division of Corporation Finance, which oversees prospectuses. Unlike the old system, no statutory deadlines guarantee immediate movement.
Meanwhile, prediction platform Polymarket shows a 69% chance of a U.S. government shutdown by October 1, as budget negotiations stall and further delay crypto-related legislation like the CLARITY Act.
Market Impact: ETFs Could Flood In
The SEC’s shift marks one of its most pro-crypto regulatory pivots in years. By streamlining ETF listings, the Commission opens the door for a wave of new spot crypto ETFs, potentially spanning from blue-chip assets like Ethereum to meme coins like Dogecoin.
If executed smoothly, the changes could “blow the market wide open,” echoing earlier predictions from industry insiders who view ETFs as the gateway to mainstream adoption.
The Bottom Line
By replacing outdated review rules with generic listing standards, the SEC has rewired the ETF approval pipeline, paving the way for crypto investment products to reach U.S. markets faster than ever before. But with Washington gridlock threatening to slow progress, the race between regulatory reform and political risk is just getting started.
