- The SEC is drafting a universal rule to speed up spot crypto ETF approvals, potentially cutting wait times from 240 to 75 days.
- New SEC guidance marks a regulatory pivot from enforcement to structure, offering hope for faster listings of Solana, XRP, and Dogecoin ETFs.
- REX-Osprey launched the first Solana staking ETF using a creative workaround, gaining a market lead ahead of the SEC’s next rule phase.
The U.S. Securities and Exchange Commission (SEC) is now crafting a unified framework for spot crypto ETFs. This move aims to simplify approval processes for dozens of applications tied to assets like Solana, XRP, and Dogecoin. Reuters confirmed that the regulator is now collaborating with exchanges to finalize a broad rule. This would replace the current case-by-case method that relies on the complex 19(b)4 form.
Crypto Guidance Sparks Regulatory Shift
The SEC recently issued a 12-page disclosure guideline outlining how ETF issuers should communicate crypto-specific risks. This includes clear language on custody concerns, asset volatility, and operational structures.
This guidance signals a clear departure from the SEC’s previous enforcement-heavy stance. Under new leadership, the agency has now paused multiple lawsuits and redirected focus toward structured regulation.
Moreover, the commission has formed a task force to develop long-term rules for digital asset funds. This has given both asset managers and crypto exchanges new hope for swifter ETF approvals.
Besides that, a second key document is expected soon. It will likely replace the existing exemption form process and enable listings under a general rule. If adopted, the filing-to-launch time could shrink from 240 days to just 75.
Solana ETFs Race Ahead
While major ETFs for Solana and other tokens await approval, some issuers are taking a different route. REX Financial and Osprey Funds launched the REX-Osprey Sol + Staking ETF on July 1. The fund sidesteps current rules by investing in a separate entity holding Solana and a non-U.S. fund.
This creative structure lets them offer staking rewards and gain first-mover advantage in a highly competitive market. The ETF saw $12 million in inflows on its debut day. Additionally, REX Financial’s CEO Greg King confirmed they plan to pursue a spot Solana ETP once clear rules emerge.
