SEC Streamlines Process for Spot Crypto and Altcoin ETFs
- SEC ends 19b-4 filings as generic rules streamline spot crypto ETF approvals in the U.S.
- Sixteen spot crypto ETFs tied to SOL, XRP, and DOGE face October approval deadlines.
- SEC and CFTC plan joint rulemaking and roundtable to align oversight of digital assets.
The U.S. Securities and Exchange Commission (SEC) has requested that issuers of spot cryptocurrency ETFs withdraw their Form 19b-4 filings. The move follows the regulator’s recent approval of generic listing standards for commodity-based exchange-traded products (ETPs). This policy change may accelerate approvals for several altcoin ETFs in October.
SEC Simplifies ETF Approval Process
Previously, exchanges and issuers were required to submit Form 19b-4 to revise exchange rules before the debut of a new ETF, following which the process would prolong to several months and also face numerous delays. On September 17, 2025, the SEC approved generic listing standards that now let exchanges list spot crypto ETFs that meet the criteria without needing to file new rule change requests.
Issuers must still submit Form S-1, which discloses a fund’s strategy and structure, but the elimination of 19b-4 filings streamlines the process. The rule change applies to funds tied to cryptocurrencies, including Litecoin (LTC), XRP, Solana (SOL), Cardano (ADA), and Dogecoin (DOGE).
ETF analyst James Seyffart of Bloomberg Intelligence said the SEC “can move absurdly fast if they really want to.” He added that approvals could arrive within days, though the regulator may also approve funds in waves.
October Deadlines for Spot Crypto ETFs
Sixteen spot crypto ETFs face final decision deadlines in October. These cover Solana, XRP, Litecoin, Dogecoin, Cardano, and Hedera. Canary’s spot Litecoin ETF holds the earliest deadline on October 2. Grayscale’s Solana and Litecoin trust conversions follow on October 10, while WisdomTree’s XRP ETF deadline falls on October 24.
Nate Geraci, president of ETF firm The ETF Store, called the upcoming weeks “enormous” for spot crypto ETFs. He noted that multiple filings reach their deadlines within the month, although the SEC could issue decisions earlier.
Crypto trader Daan Crypto Trades observed that while Fidelity and BlackRock are not part of this round, the approvals could still reshape the market. The SEC’s new approach marks a departure from earlier delays this year, when the agency repeatedly extended reviews.
Broader Regulatory Coordination
The generic standards were implemented by the SEC to establish a more consistent system of launching crypto products. Officials pointed out that the new regulations could balance between market accessibility and protection, with a steady set of requirements demanded by issuers.
The regulator is further collaborating with the Commodity Futures Trading Commission (CFTC) in joint rulemaking to harmonize crypto regulation. The roundtable would focus on coordination across digital asset markets and highlighting the need to work towards harmonizing oversight. The structure also includes exemptions meant to encourage innovation, which helps grow on-chain capital markets. This signals a broader regulatory shift, supporting the expansion of digital asset products.
Related: SEC Clears Standards Paving Way for Altcoin-Focused Crypto ETFs
Market Outlook and Institutional Adoption
The institutional approval of cryptocurrencies would be a milestone with the approval of spot altcoin ETFs. The SEC has also lowered barriers to issuers and exchanges by simplifying the listing process.
Market analysts caution that while expectations of approvals have lifted crypto prices, actual launches could trigger a short-term “sell-the-news” reaction. Still, institutional demand is expected to remain strong. Bitfinex researchers previously predicted that ETF approvals could spark a new altcoin rally.
Bloomberg’s Eric Balchunas added that as many as 22 cryptocurrencies with active futures markets could qualify for ETFs under the new rules. This could expand the range of products available to investors. With deadlines approaching in October, the SEC could approve multiple ETFs simultaneously or stagger its decisions.
