SEC’s End of 19b-4s Speeds Up for XRP, SOL, ADA, DOGE, and LTC ETF Approvals
- SEC approval of generic listing standards removes 19b-4 requirement, speeding crypto ETF filings.
- Tokens meeting criteria allow immediate ETF approval anytime using a simpler S-1 filing process.
The US Securities and Exchange Commission (SEC) has instructed issuers of XRP, Solana, Dogecoin, Litecoin, and Cardano exchange-traded funds to withdraw their 19b-4 filings. The shift follows the regulator’s approval of generic listing standards earlier this month, ending the need for those individual applications.
Journalist Eleanor Terrett explained on X that issuers could start withdrawing before the end of the week. She stressed that “even though deadlines are looming for these individual ETFs, the SEC could technically make a decision on any or all of these at any time.”
This development signals the use of a simplified process where exchanges no longer petition for individual rule changes each time a new token ETF is launched. That step had previously stretched approval times by several months.
New Filing Rule Speeds Up ETF Approvals
Under the updated system, issuers must only submit an S-1 form outlining the ETF’s structure and strategy. The removal of the 19b-4 requirement cuts down the lengthy review process from as much as 240 days to roughly 75 days.
Bloomberg Intelligence analyst James Seyffart commented on the possible speed of approvals, saying,
Nate Geraci, President of the ETF Store, added that the regulator is due to wrap up its decision on Canary Capital’s spot Litecoin ETF this week. He noted that other filings tied to Solana, Dogecoin, XRP, Cardano, and Hedera will follow.
SEC and CFTC Unite Under ‘Project Crypto’
The new framework has already supported the approval of Grayscale’s CoinDesk Crypto 5 ETF on September 19. That fund tracks Bitcoin, Ethereum, XRP, Solana, and Cardano, and is the first US product to cover five of the largest cryptocurrencies by market capitalization.
Bitwise CIO Matt Hougan had anticipated this type of outcome, previously stating that the approval of generic listing standards could “blow the market open.” His forecast aligns with expectations of broader adoption of crypto ETFs in the near term.
Adding to that, the SEC is also working with the Commodity Futures Trading Commission through a joint roundtable under “Project Crypto,” launched in July. This initiative aims to align policies across agencies to modernize digital asset regulation.
In trading, XRP is priced near $2.90 with a 1.75% gain in 24 hours. Solana stands at around $210.05, up 0.86% over the same period. Cardano is holding at $0.803, reflecting a 0.78% increase. Dogecoin is at $0.2325, slipping by 0.28%, while Litecoin trades at $106.51 with a 0.47% rise.
You May Also Like
Ethereum Foundation Leadership Update: Co-Director Tomasz Stańczak to Step Down
