SEC Fast-Tracks Solana, XRP ETF Approval With New Crypto Rule

• SEC may replace the 240-day 19b-4 process with a 75-day unified rule for spot crypto ETF approvals.
• New listing guidance released July 2, with a broader framework expected by early autumn.
• Solana likely leads the next batch of ETF approvals; some firms are launching workaround products in the meantime.

The U.S. Securities and Exchange Commission (SEC) is preparing a standardized rule to simplify the listing of spot crypto ETFs. The move comes as applications tied to cryptocurrencies such as Solana, XRP, Dogecoin, Polkadot, and the Trump meme coin await final approval.

The updated framework aims to replace the current case-by-case approach, which relies on the 19b-4 exemption process. That process often delays ETF launches by as much as 240 days. 

Under the new system, the SEC could reduce the timeline to around 75 days by applying a single, general rule to all listings.

A senior executive at one ETF issuer told Reuters the SEC and exchanges are still negotiating the final language. Once finalized, exchanges are expected to submit filings under the unified structure within days or weeks.

Plain-English Guidance Released, Second Phase Expected by Autumn…

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